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"High interest rates really forced cracks in [this] recovery, and it’s folks who are on the margins of our economy who are hit first and hit hardest." @rmabud.bsky.social makes the urgent case for the Fed to lower interest rates in today's New York Times — read more:

High Interest Rates Are Hitting Poorer Americans the Hardestwww.nytimes.com The economy as a whole has proved resilient amid the highest rates in decades. But beneath the surface, many low- and moderate-income families are struggling.

If the major component of the inflation index that remains stubbornly high is housing, WHY keep interest rates so high? You'd lower inflation by lowering the cost of borrowing in that case. Even if you do it by 25 basis points.