Federal Reserve Official Warns of Possible Rate Hikes

Member of the Federal Reserve Board of Governors, Michael Barr, stated that the US central bank may need to raise interest rates further to control inflation, after raising them by 25 basis points last week to a range between 3.75% and 4.00%. Despite a strong economy and a stable labor market, inflation remains above its 2% target, with no clear downward path in sight. Many Federal Reserve members expect at least one more rate hike before the end of the year, with the possibility of two additional increases, aiming to support sustainable growth and achieve price stability. Meanwhile, the housing market is facing challenges due to rising financing costs and mortgage interest rates reaching 7.12%, the highest level in over two years.

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