By Damien Bartonek | KKTV 11 News
COLORADO SPRINGS, Colo. (KKTV) – A quarter-point increase in interest rates from the Federal Reserve could make it more expensive for some El Paso County residents to buy a home, while adding pressure to an already strained rental market according to housing experts.
Federal Reserve Chair Kevin Warsh said inflation remains too high and that recent data have not shown enough improvement to change the central bank’s approach.
“The plain fact is that inflation is too high and has been for too long,” Warsh said. “This summer’s inflation readings do not tell me that underlying trends have meaningfully improved.”
The Federal Reserve says the rate increase is intended to help bring inflation back toward its 2% target.
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