IMF's Georgieva warns Fed may need to hike further to cool down overheating U.S. economy

IMF managing director Kristalina Georgieva believes the Fed may not be done tackling inflation. (Credit: Chris J. Ratcliffe—Bloomberg/Getty Images)

Americans may have dig even deeper to finance their next car or home purchase going forward.

Efforts by the Federal Reserve to cool off an overheating economy appear not to have done the job so far, prompting the head of the International Monetary Fund on Saturday to urge further action in order to get inflation back down to sustainable levels.