
MarketMinute | How Much Did The Fed Raise Policy Rates?
Consumer prices came in better than expected in November, up just 0.1% from October and up 7.1% over last year, signaling inflation is ebbing. Consumers pulled back on spending in November, with retail sales for the month declining 0.6%, more than the expected 0.3% drop. The Fed raised policy rates 0.5% this week and signaled more rate hikes to come in 2023 as it continues to fight inflation. Although still lower than a year ago, purchase mortgage applications were up 4% last week. Refinance applications rose 3%....
READ MORE