Federal Reserve Chair Kevin Warsh followed market expectations Wednesday, holding rates steady in the 3½ to 3¾% range despite persistent inflation. Must ReadMany economists believe Warsh may increase Fed rates later this year, but that's no more a sure thing than the end of the Iran war. He notes that home buyers everywhere are struggling with inflation — but raising Fed rates to slash inflation is a double-edged sword. "Housing is often collateral damage in fighting inflation," he told Moneywise. Holding or increasing the Fed rate is designed to keep inflation in check by keeping borrowing rates relatively high — in turn reducing consumer spending.