Interest Rates are Going to Keep Going Up

The Fed is specifically targeting the housing bubble and I don't think they are going stop raising rates until they have evidence housing prices have started to fall.

"ROCK HILL, S.C. (Reuters) - Federal Reserve officials said Thursday it was essential that unwelcome inflation be kept in check, bolstering expectations for more interest-rate increases from the central bank.

Building on a chorus of tough inflation talk this week from fellow policy-makers, Richmond Fed President Jeffrey Lacker said the Fed would respond to economic developments as needed to preserve its credibility as an inflation fighter.

"To preserve and build on the credibility we already enjoy, we will need to continue to respond to changing economic conditions in a way that confirms our commitment to low inflation," Lacker said in a speech at Winthrop University."

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