One of the questions that all this talk of inflation that US officials have been engaged in lately is this: Will the Fed raise interest rates?

One of the responses to inflation is to raise interest rates in order to control it. For months now, the Fed has been focused on stimulating growth. Now, though, inflation — and its sibling stagflation — are becoming more intrusive on people’s lives.

While the possibility of a raise in interest rates has the US dollar on the rise, such a move is unlikely to have a big impact on mortgage interest rates. Those are more affected by US Treasury 10-year note rates.