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The FED has plans to raise these rates slowly throughout the year, but the last time Jerome Powell (current FED chairman) attempted this in 2018, he had to revert his course and lower rates once again. It is possible that Powell is forced to keep rates low again, even with high inflation.
This week, Reps. Chellie Pingree (D-ME) and David Rouzer (R-NC) introduced the House companion bill for the Healthy H20 Act. The original legislation, which ASA lent its support for, was introduced by Sen. Tammy Baldwin (D-WI) in March. The bill would address funding for clean water in rural and underserved communities that may have been overlooked by previous funding efforts.
