The Fed's Toolkit for Renters and Homeowners

A lot of people around my age are like, I don't know if I'm ever going to own a home. So we have, just to say it again, we have one tool. It's a blunt tool. We raise the interest rate. The mortgage interest rate rises, demand for ownership of homes falls because it's more expensive to get the loan. That eventually slows the price of home price growth and then eventually trickles into rental price growth. If we can fix the toxin and get it back down to 2% then you can save more.