Federal Reserve

Fed governor warns more interest rate hikes may be coming

Fed Governor Michelle Bowman said additional interest rates may be needed to lower inflation to a preferred target range. But inflation has slowed in recent months, even as Americans dealt with record-high credit card debt.

Mortgage rates leap to 22-year high

The average rate on the benchmark 30-year fixed mortgage climbed to 7.23% this week, the highest since 2001, according to the latest data from Freddie Mac.