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As covid-related restrictions ease, consumers are returning to air travel, resulting in a noticeable resurgence. According to the TSA, 2.785 million passengers were screened on Friday, marking the highest number of people flying in a day since 2019.

The effect of higher rates is not what was intended, especially when combined with the unexpected increase of 21.7% in US housing starts.

Airline ticket prices for later in the summer have decreased in comparison to their prices a few months ago. Therefore, it is possible that the 2019 high of just under 2.8 million passengers flying during the July 4th weekend could be surpassed.

The Federal Reserve needs to determine whether this implies that interest rates must be raised considerably, or whether the delay in monetary policy requires more time to take effect.

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