Federal Reserve Chair Jerome Powell and members of his Federal Reserve Board might not be cruel and heartless people, but they are in the process of killing the American dream of home ownership for millions of families. As the central bank continues to aggressively raise interest rates in its battle to get inflation under control, the housing market is collateral damage. Had the Federal Reserve been more vigilant on its inflation watch, much of this pain could have been avoided. Already the housing market, which accounts for nearly 18% of the U.S. economy, is in a serious recession, with home sales sinking and prices beginning to fall. As the housing market slumps, the Federal Reserve is fighting a battle not only to curb inflation, but to restore its reputation as an inflation fighter.

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