Page 6 - Point Hike News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Start" anchor and chief business correspondent christine romans. christine? >> reporter: hi there, brianna. another gigantic interest rate hike and what the fed does and signals will coarse through every corner of this economy. all indications play to a whopping 75 basis point hike. 3/4 of a percentage point. the third big one in a row and the fifth rate hike this year. this is a fed resolutely slamming the brakes on the economy and inflation. higher interest rates mean higher borrowing costs for all-americans on their homes where mortgage rates have already topped 6%. cars, credit cards, stud...

Markets are responding to the release of the minutes from FOMC's July meeting, where further rate hikes were agreed upon.

Affect family budgets. the fed is trying to tamp down inflation and tap the brakes -- slam the brakes on an economy last year that was the strongest since the reagan administration and that is spinning off all kinds of uncomfortable inflation. >> it means you will get less home is what happens. >> you can afford less home for sure. your monthly payments of course now are much higher for a home that's coming down. we should say that prices are starting to cool just a tad, not so much, but just a tad and we know that mortgage demand has fallen off a cliff because of higher mortgage rates. >> on ...

Quarters of 1% in june and july. this is from the head of global market research for nomura securities. we recognize fed speak has not endorsed a 75 point hike, but we believe the nature of fed forward guidance has changed. it has become more data dependent and nimble. could raise interest rates all the way up to 5%. and rosemary, that would be the highest level since 2006. back to you. >> yeah, amazing. kristie lu stout joining us live from hong kong. many thanks. >> you're welcome. still to come, as a shortage of baby formula worsens in the u.s., the president invokes a decades old act to ...

US equities advanced over the last 48 hours as the Fed began the rate hiking cycle. Signs of fatigue appear after yesterday’s advance. Key levels to watch out for