Wall Street Journal Chief Economic Correspondent Nick Timiraos discussed strategy surrounding the Fed’s speculated decision to combat inflation by potentially hiking interest rates by another 75 basis points ahead of their announcement Wednesday.
U.S. existing home sales slowed for the seventh straight month in August as rising mortgage rates, surging inflation and steep home prices continued to push prospective buyers out of the market.
Sales of previously owned homes tumbled 0.4% in August from the previous month to an annual rate of 4.80 million units, according to new data released Wednesday by the National Association of Realtors. That is better than what economists were expecting, according to Refinitiv.
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