hiking campaign because they are the first and foremost inflation fighter. one of the first sectors that experiences the impact of these rate hikes is housing. the housing sector is cooling. now that does not find its way into the price index for a while. it comes in with the lag. if you look at rents, rent has come down significantly. they are still highly elevated in terms of their year-over-year but they have come down for five percentage points. that is going to take a while to feed into the cpi but is moving in the right direction. that is what i m trying to get across here. whether it is the inflation reduction act whether it s work in the ports, work with energy and the release of oil from the reserves, we are doing all we can to ease inflationary pressures and we see results. it s going to take time for those results to get into the price. would like to see that happen a whole lot faster. were going to try to work to make that happen. but we are engaged in the appropriate polic
hiking campaign because they are the first and foremost inflation fighter. one of the first sectors that experiences the impact of these rate hikes is housing. the housing sector is cooling. now that does not find its way into the price index for a while. it comes in with the lag. if you look at rents, rent has come down significantly. they are still highly elevated in terms of their year-over-year but they have come down for five percentage points. that is going to take a while to feed into the cpi but is moving in the right direction. that is what i m trying to get across here. whether it is the inflation reduction act whether it s work in the ports, work with energy and the release of oil from the reserves, we are doing all we can to ease inflationary pressures and we see results. it s going to take time for those results to get into the price. would like to see that happen a whole lot faster. were going to try to work to make that happen. but we are engaged in the appropriate polic