The Federal Reserve hiked interest rates by a half-percentage point today and scaled back additional pandemic-era economic aid, bolstering its attempts to combat the greatest inflation in 40 years.

We’ll keep a watchful eye on how this will impact Affordable Housing and Affordable Homeownership Programs.

Watch Chair Pro Tempore Powell’s statement from the #FOMC press conference:

• Click here for Intro clip
• Full video: https://youtu.be/dkdZi4-FX0w
• Press Conference materials: https://federalreserve.gov/monetarypolicy/fomcpresconf20220504.htm