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But we saved everything 🙂.
Heather Long highlights that the yield on the 10-year bond rose above 5.2 percent today, reaching a level not seen since summer 2007.
According to Long, while Wall Street may be comfortable with this move, it is creating challenges for Main Street. She points out that mortgage rates are now back above 7 percent, and auto loan rates are also increasing rapidly, adding financial pressure for many Americans.
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Earlier this month, Heather Long reported that Federal Reserve Governor Chris Waller expressed a preference to keep interest rates steady in September, ahead of updated inflation data here. In a separate analysis, Long noted that recent U.S. wage gains have been cancelled out by rising inflation, forcing many households to cut spending here. These developments add context to the current pressures facing American borrowers.