Posted 1/29/2024, 5:30:00 PM
Democrats Push Fed to Cut Rates Sooner to Ease Housing Costs
- Warren and other Democrats urge Fed to cut interest rates to help Americans struggling with housing costs
- They say high rates have made mortgages and rents unaffordable for many families
- Fed expected to announce this week it will pause interest rate hikes, but plans cuts in 2024
- Lawmakers want Fed to consider implementing those planned 2024 rate cuts sooner
- Fed chair has acknowledged impact of rate hikes on housing, but lawmakers want affordability to be a priority