Federal Reserve rate rises to prompt real estate correction in the US says Fed chair Jerome Powell

With the US Federal Reserve surprising no one with another supersized rate rise earlier today, there are big questions over whether the aggressive inflation-fighting action is working.

Fears are growing that the Fed's action might create a recession in the US - but on the upside there are signs that America's hot real estate market might be cooling - long awaited good news for people locked out of the market.

I speak in The World Today with Rachel Mealey