CPI used by Federal Reserve rose slowly. 2021 – 7.6% 2022 – 6.3%

But Median Home Price (Inflation) rose faster. 2021 – 18% 2022 – 13%

The problem is the Fed was watching the CPI and not looking at housing prices which rose a lot faster. That resulted in similar large rent increases. Powell and the Fed did NOT recognize the need to raise rates UNTIL January 11, 2022.

Solution 1: Have Congress give the Federal Reserve the mission of controlling mortgage rates in conjunction with housing inflation. OR

Solution 2: Combine the Federal Student Aid, Fannie Mae, and Freddie Mac agencies into the new Federal Loan Administration and have it set rates in conjunction with the Federal Reserve for student and housing loans. Student loan rates and mortgage rates would rise as demand rises or as prices rise. Likewise they would go down independently of the Fed Funds Rate as demand goes down or as prices drop.