The Fed helped create it via QE, and then convincing the market inflation was transitory, which kept rates suppressed below fundamentals for 2 years. The arrog

The Fed helped create it via QE, and then convincing the market inflation was transitory, which kept rates suppressed below fundamentals for 2 years. The arrogance was intervening as much as they did in the first place, creating a massive bubble. Even if inflation subsides, they will likely sell MBS to keep mortgage rates high until housing cools off. Home prices are already far higher than the 2000s peak in inflation adjusted terms