What Does the Fed Raising Rates Do to the Economy?

The only thing I'm really confident about the Fed is that they're probably going to change their mind at some point. If inflation does have a serious downturn and it gets to three or four percent, I think they'd be nuts to not try to rethink what they're doing. What does the Fed raising rates actually do to the economy? Where is it most acutely felt? The housing market. My view is that housing prices are probably going to decline in 2023,. They'll probably fall by about 10 percent from peak to trough.