Investors are worried that the Fed will also continue to act, even though there is already evidence that consumers are starting to feel a one-two punch from higher prices and higher interest rates.
The US Supreme Court announced on Monday that it will hold arguments in a second case in February concerning President Biden’s student loan forgiveness program, which is currently on hold.
Rates have risen nearly every week since late August and have more than doubled since the beginning of the year. Luckily, Coachella Valley’s housing market is looking good compared to other parts of the state.
In addition to exempting student loan debtors from repayment obligations, the administration also announced an extension of the freeze on student loan interest rate accrual through Dec. 31. The freeze was first enacted under President Donald Trump as part of the initial response to the federal coronavirus public health emergency, and it has been renewed six times.
