On Wednesday , the Federal Reserve announced that it would raise interest rates gradually in order to protect the housing market , indicating that the market is still not strong enough to cope with immediately higher rates , even eight years on from the crisis . Fed Chair , mark Yellen , said that the central bank 's policy committee does not expect that there will be a " very steep " rate of rate increases , so as not to disrupt the housing market .
On Wednesday, the Federal Reserve announced that it must raise interest rates gradually in order to protect the housing market, indicating that the market is still not strong enough to cope with immediately higher rates, even eight years on from the crisis. Fed Chair, Janet Yellen, said that the central bank's policy committee does not expect that there will be a "very steep" path of rate hikes, so as not to harm the housing market.