09/17/2026
Markets
The Fed hiked rates a quarter point today, its first move in three years, and new chair Kevin Warsh came out swinging at the podium. Inflation is “too high for too long,” he said, while the job market remains solid.
The vote was unanimous, with all 12 officials backing the move after the Fed held rates steady in July. Goldman does not expect an aggressive hiking cycle from here, but anyone shopping for a home is staring down mortgage rates around 7 percent.
Housing just picked up another headwind, with borrowing costs still elevated and the prospect of another rate increase keeping pressure on affordability.
For now, policymakers are signaling that inflation remains the bigger problem, even as growth continues to hold up reasonably well.
