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The Federal Reserve followed through with its plan for another rate hike this week. Fed officials hiked short term rates by three-quarters of a percent. Fed Chief Jerome Powell also reiterated his determination to bring inflation levels back down to 2% with more rate hikes and warned that the housing market is headed for a “correction.” Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review. Powell said after the September policy meeting: “Our expectation has been we would begin to see inflation come down, largely because of supply side healing. We haven’t. We have seen some supply side healing but inflation has not really come down.” (1) Fed Hikes Short-Term Rates The Federal Open Market Committee raised the Federal Funds rate to a range of 3 to 3.25%. It’s the third consecutive .75% rate hike and brings the overnight lending rate to the highest it’s been since early 2008. The central bank started raising rates in March from a level t