Understanding Powell's Market-Moving Comments and Takeaways from the Federal Reserve Meeting.

The Federal Reserve raised interest rates for the tenth time since last March, making it more expensive for banks to borrow money and causing lenders to charge higher interest rates on credit cards, mortgages, and loans. The Fed's ultimate goal is to get prices lower, and it has been successful so far with prices up only 5% compared to last year. However, the Fed's rate hiking campaign has caused mortgage rates to double, sending home prices lower and causing tech companies to lay off workers. The Fed may hit the pause button on rate hikes next month, as it shifts its focus to credit tightening and the recent bank failures that have made it tougher for people to get loans. The Fed also wants there to be fewer job openings to fill, as too many job openings and not enough people filling them has led to higher wages and inflation.