Inflation is at its highest level in forty years. Economic markets, not just in the United States but around the world, are struggling. The US economy began to shrink in the first quarter of this year.
The US economic market had barely recovered from the last global economic crisis two years ago. On June 15, the US Federal Reserve raised interest rates by three-quarters to control inflation, the highest in three decades. There are indications that this rate may increase further in the future.
Higher interest rates save money in areas where it is needed. Consumers are reluctant to take loans from banks if interest rates are high. Fixed mortgages increased by 5% in April, resulting in a decline in home sales
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