Fed Searches for the Magic Number to Cool a Red-Hot U.S. Housing Market

Wall Street Journal, May 24, 2022–Nick Timiraos, Nicole Friedman (subscription)
When the Federal Reserve set out to cool the economy and slow inflation in the past, it counted on the housing market to do much of the work. By raising interest rates, the central bank made mortgages more expensive and trimmed the number of buyers. This time, America’s red-hot housing market threatens to make the Fed’s job tougher.