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"High interest rates are stifling the housing market and saddling people with debt.”
Ahead of the Federal Reserve Open Market Committee meeting next week, a chorus of economic experts, former Fed officials, and pundits are pushing for Chair Powell and his colleagues to cut interest rates from their 23-year highs.
"Twenty-three-year high interest rates are not warranted – they never were."
“It’s imperative that we root out junk fees and stop pricing practices that prey on vulnerable families and focus on addressing the excessive corporate power that enables this gouging. The CFPB is doing just that.”
“Surveillance pricing isn't new, but new technologies like better data collection and smarter algorithms are turbocharging it and costing Americans a small fortune."
An award-winning and widely-regarded communications strategist, Webb will manage Groundwork’s growing communications team and lead its efforts to tell new stories about how the economy works and who it should work for.
“Across the country, tenants are being gouged by landlords who are exploiting a housing shortage to profit off of families' basic need for shelter. With today's announcement, the Biden Administration has answered the call from tenants and taken an important step to check the greed of landlords and give families some breathing room.”
“Today’s report is a bright green light for rate cuts. Prices are falling, and the Fed’s current stance is only hindering that progress. The Fed has all the data it needs to cut rates now.”
“We’ve had nearly two years of falling inflation and zero inflation in May. Despite this progress, Chair Powell has kept interest rates at a 23-year high at the expense of families struggling with high borrowing costs. Congress should be asking one question: Where are the rate cuts?”
“Families feel the pain of high interest rates when they pay their credit card bill or enter the housing market. The Fed has all the data it needs when inflation has been falling from its peak for nearly two years. Chair Powell and his colleagues must rate cuts now."