Data: Bureau of Economic Analysis; Chart: Axios Visuals
The new GDP numbers are out, and one striking thing to draw from them is this: The housing sector is overwhelmingly bearing the brunt of the Federal Reserve's efforts to slow down the economy, especially with mortgage rates topping 7%.
Why it matters: The Fed's rate hike campaign is succeeding at slowing the overall economy, but the burden disproportionately falls on those trying to buy, sell or build houses. That makes the policies less effective at bringing down inflation than they might be if the impact were wider.
