Watch Groundwork’s video on the Fed and housing prices
Ahead of the Federal Reserve’s policy announcement this afternoon, Groundwork Collaborative Chief Economist Dr. Rakeen Mabud warned against keeping interest rates at 23-year highs:
“The Fed’s high interest rates are exacerbating our housing crisis while doing nothing to tackle the high prices that remain. Meanwhile, sky-high borrowing costs have pushed household debt to an all-time high and delinquencies are rising.
“The Fed is failing families struggling to get by and failing to bring down inflation. Chair Powell should move to cut rates.”
Email press@groundworkcollaborative.org to speak with Dr. Mabud about the Federal Reserve’s path to cutting interest rates. Check out Groundwork’s new video explaining the negative impact the Fed is having on housing prices.