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Rising cost of homes is a concern for borrowers. Rising concerns for borrowers. (Source: Shutterstock)

CUNA Senior Economist Dawit Kebede said Wednesday’s report that inflation grew in December at the fastest pace in nearly 40 years will mean faster Fed action to raise interest rates, which will ultimately slow borrowing.

Kebede and NAFCU Chief Economist Curt Long said the Federal Reserve will most likely raise interest rates earlier than anticipated to control inflation. This would be in addition to ending its support for the economy in the form of large asset purchases.

Jim DuPlessis

A journalist for decades.

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