Some Fed policymakers have recently hinted that they'd be open to a rate pause.
The increase at the end of 2022 led to a sharp decline in home-purchase applications.
The probability of a downturn in 2023 climbed from 65% odds in November.
Firms blamed inflation and weakening client demand.
It's the fifth straight advance and the highest since October 2008.
Inflation has continued to dominate consumers' attention.
Federal data showed employment has fallen by about 116,000 on average over the past three months.
An improvement in the trade shortfall any time soon will be difficult as U.S. demand outpaces the world.
Consumers and manufacturers haven't seen the end of heightened inflation yet.
Crippling inflation is likely to continue to harm the economy and U.S. investors.