More Americans are leaning on their credit cards to cope with rising prices. And as interest rates continue to climb, that debt is getting more and more expensive.
The buying frenzy of a year ago is long gone. Home buyers have pulled away, sellers are holding back, and the whole housing market is locked in a deep freeze.
Inflation may be slowing, but prices are still climbing much faster than Americans are used to. The Federal Reserve's dramatic steps to bring it to heel appear to be working - somewhat.
The Federal Reserve raised interest rates by another 0.75 percentage points Wednesday, as part of its ongoing effort to fight inflation. The big question is, what happens next.
Factories have added 467,000 jobs in the last 12 months, as production jumped to its highest level since 2008. But manufacturing remains a much smaller slice of the U.S. economy than it used to be.
The Federal Reserve raised interest rates by another 0.75 percentage points today, as it tries to control runaway prices. The central bank also signaled that additional rate hikes are likely.
Inflation is sky high. The Federal Reserve wants to bring it back to earth without crashing the economy. But achieving a so-called "soft landing" and avoiding a recession is easier said than done.
The Federal Reserve raised interest rates by three-quarters of a percentage point Wednesday in an effort to combat stubbornly high inflation. It's the biggest rate increase in 28 years.
Markets jumped after Fed Chair Jerome Powell said the central bank was not contemplating bigger rate hikes than the half-a-percentage-point increase it delivered on Wednesday.
The Federal Reserve raised interest rates by half a percentage point Wednesday, in an effort to cool off demand and lower inflation. Consumer prices have been rising at the fastest pace in 40 years.
The Federal Reserve is expected to approve its largest interest rate hike in more than two decades this week. Additional rate increases are likely, as the Fed tries to regain control over inflation.
Higher mortgage rates and home prices have pushed the monthly payment to buy the median-priced home in the U.S. up more than 50% since the start of last year. Many first-time buyers can't afford it.
The central bank raises its benchmark rate by a quarter percentage point in an effort to tamp down inflation. Additional rate hikes are likely in the months to come.
