OMAHA, N.E. (KELO)-

The Federal Reserve Board is stuck between a rock and a hard place.

Inflation is running hotter than they want to see, which would normally cause them to raise interest rates.

But, historically the Fed hasn’t tampered with rates this close to an election.

Creighton University Economist Dr. Ernie Goss says the main question is timing.

Higher rates have hit the real estate market, pushing mortgage rates above 7-percent.

Since 1971, rates have averaged nearly 7 3/4%.