interest rate hike

Waters Warns Chair Powell About Consequences of Interest Rates Hike

Following the Federal Reserve’s recent decision to increase the federal funds rate by 0.75 percent to a target range of 3.75 percent to 4 percent – marking the sixth consecutive rate hike and the fourth consecutive super-sized rate hike in just the past eight months – Congresswoman Maxine Waters, chairwoman of the House Financial Services Committee, sent a letter to Federal Reserve Chair Jerome Powell on Nov. 4. In the letter, Waters urges Chair Powell to consider the significant pain that these rate increases may inflict on families across the country and the impact these increases are having on the cost of housing, which