Warren Worried Fed Is Going Too Far on Rates

With analysts expecting the Federal Reserve to raise interest rates again on Wednesday, Sen. Elizabeth Warren and Congressman Stephen Lynch are calling out the monetary policymakers for being too aggressive and putting the jobs of Americans at risk.

Fed Approves Half-Point Rate Increase

The Federal Reserve intensified its fight against the worst inflation in 40 years by raising its benchmark short-term interest rate by a half-percentage point Wednesday – its most aggressive move since 2000 – and signaling further large rate hikes to come.

Freddie Mac: Mortgage Rates Drop

Treasury yields fell from a week ago, helping to drive mortgage rates down to start the year. The 30-year fixed-rate mortgage fell 4 basis points from a week ago to 3.95 percent in the year’s first survey. Despite increases in short-term interest rates, long-term interest rates remain subdued. The 30-year mortgage rate is down a quarter of a percentage point from where it was a year ago and the spread between the 30-year fixed and 5/1 adjustable rate mortgage is the lowest since 2009.