The Federal Reserve on Wednesday raised interest rates by another 75 basis points – or 0.75% to ‘fight’ Bidenflation.
The fed funds rate is now in the range of 3% to 3.25% – the highest since 2008.
30-year fixed rate mortgages already hit 6.25% last week.
The Dow tumbled 100 points as the Fed pledged to keep raising interest rates.