Title 1

Federal Reserve System

Financial conditions are crucial to the American vision.

Fed Chairman Jerome Powell said earlier this year that

"Politics works through financial conditions. That's how it enters the real economy."

Unlike Australia, the US economy is not responding directly to rising short-term interest rates.

Most homeowners are not affected because they have a long-term debt

with a fixed interest rate. Some of these debts may not be repaid in the coming decades.

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