Key data such as housing starts, mortgage applications and average price suggest the US housing market is in recession. Since the downturn coincides with the beginning of the Fed’s rate hike cycle in March, investors might expect the policy to pivot – but the central bank is firmly focused on another key indicator. Presented by @CME Group: https://www.cmegroup.com/openmarkets/economics.html?utm_source=youtube&utm_medium=paid_social&utm_campaign=quicktake_evergreen&utm_content=more_insights