It was the central bank’s sixth rate hike this year — a streak that has made mortgages and other consumer and business loans increasingly expensive and heightened the risk of a recession.
For now, the persistence of inflated prices and higher borrowing costs is pressuring American households and has undercut the ability of Democrats to campaign on the health of the job market as they try to keep control of Congress. Republican candidates have hammered Democrats on the punishing impact of inflation in the run-up to the midterm elections that will end Tuesday.
Thanks Brandon !
Thanks Joe Biden. This is going to kill the economy!
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: