Don’t stray from your diversified portfolio and attempt to guess the agency’s next move.
Their rationale was that it takes a while for higher rates to filter through the economy and the central bank is trying to strike a balance between bringing down prices, without tipping the economy into a recession, which is often referred to as a “soft landing.”
Still, if you thought that the Fed was done with the most aggressive rate hike campaign since the early 1980s, their not-so-subtle response is: not so fast. In the Fed’s economic projections, which accompanied the June decision, the majority of officials projected that another half of a percentage point of hiking would be necessary in 2023, which would push up the fed funds rate to 5.6%.
For those seeking to purchase a house with borrowed money, you may want to consider an adjustable-rate mortgage, which would push down monthly payments for a fixed time horizon .
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