'The Fed should look forward, not backward,' National Association of Realtors chief economist Lawrence Yun told Newsweek.
, the central bank foresees raising its key rate at least two more times before the end of the year—something that economists think should be avoided to help release pressure on the commercial real estate market and the banking sector.
The U.S. consumer price inflation was down to 4.0 percent in May, the lowest level since March 2021, below its peak of 7.79 percent in April last year. Core inflation, which excludes volatile items like food and energy, has slowed to 5.3 percent in the same month, far below the 9.1 percent reached in June 2022.
U.S. Federal Reserve Board Chairman Jerome Powell speaks during a news conference following a meeting of the Federal Open Market Committee , on June 14, 2023, in Washington, D.C. After a streak of ten interest rate increases, Powell announced that rates will remain steady and unchanged.
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