As we all know, in order to curb high inflation, the Federal Reserve has been raising interest rates like crazy for nearly a year and a half, and interest rates are now at their highest level in 22 years.。Due to the linkage of the financial world, the upward movement of benchmark interest rates has brought a series of chain reactions such as the Treasury market and the real estate market, 10-year U.S. bond yields have soared to historical highs, incidentally, even the U.S. 30-year mortgage rates are slowly rising。Interest rates are the same everywhere, when interest rates are low, everyone wants to get a few houses to fry, when interest rates are high, no one wants to carry a heavy mortgage to do the pick-up man.。In an environment of high interest rates, real estate companies can't sell their houses, banks can't lend them out, and no one has a source of money to make.。So, the U.S. real estate and banking industries recently jointly wrote to Federal Reserve Chairman Powell, hoping that the lovely Fed chairman would stop raising interest rates!In the letter, the two industries gave the Fed two demands: first, to stop raising interest rates, which we all understand.。Second, stop selling your mortgage securities on your own initiative, and what does that mean?？In fact, this so-called mortgage security is a group of mortgages bundled together to form a portfolio that is sold on the open market, or MBS for short.。Since MBS is backed by a large string of home mortgages, MBS is also often seen as a relatively high-quality asset, and the Fed has a large amount of MBS in its hands.。When the Fed wants to tighten monetary policy, the Fed sells MBS in the market and returns some of its money to cool the economy。That's why the two industries are proposing in the letter that they want the Fed to stop selling MBS, which would be a major blow to both the U.S. financial and real estate markets.。

To ease market anxiety, Bostic said: "I think our policy rate has reached a sufficiently restrictive position to push inflation back to 2 percent.。"