Warren Faults Fed's High Rates For Worsening Housing Crisis
• Elizabeth Warren blames the Fed and Jerome Powell for worsening the housing affordability crisis with high interest rates • Warren urges the Fed to reverse course and start cutting rates again to provide relief • Mortgage rates spiked to nearly 8% last year but have since cooled a bit, though still unaffordable for many • High rates have discouraged home building and prevented existing homeowners from listing homes • The lawmakers argue high rates are disproportionately burdening Black and Hispanic households and renters