MSNBC MSNBC Reports June 4, 2024 19:44:00
8%. in place did show signs of backing off in the later parts of the year, as the federal reserve accelerated the pace of its interest rate increases. >> one quarter percentage point. >> a half percentage point. >> three quarters of a percentage point. >> the fed continued to raise rates at that pace, at steam not seen in decades. the idea? to make borrowing costs expensive enough to slow the economy and inflation. and among the sharpest slowdowns in the housing market where home borrowers are saying no to sky high mortgage rates and topping out at 7% in the fall, more than a double a year ago...