Graham Stephan, relaying another source: Fed policy rate will rise

The window it was checked over

Federal funds target range, upper limit: Federal Reserve Board via FRED, figures as first published. The shaded span is the window the call was checked over; grey bands are recessions.

What was said around it

interest rates that get passed back on to the customer. Now, even though some of these rate hikes have already been priced in, the Federal Reserve recently came on record to say that while higher interest rates, slower growth, and softer labor market conditions will bring down inflation, they will also bring some pain to households and businesses. These are the unfortunate costs of reducing inflation, which basically means interest rates are going higher and there's nothing you could do about it. As of the time I'm making this video, the market currently believes that the Federal Reserve is 82% likely to implement another 75 basis point rate hike on September 21st, meaning we could soon see the highest interest rates since 2007. This comes as they continue to battle inflation that's substantially above their 2% target, growth has not slowed down, and demand is still there. Even though this is a lagging indicator, the Federal Reserve does have to get ahead of these price increases, and that will absolutely have an effect on what happens to the housing market. So, in terms of what this means for you in the market, here's what you need to be made aware of. One, when sellers can't get the price

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