WASHINGTON (AP) — From Wall Street traders to car dealers to home buyers, Americans are eager for the Federal Reserve to start cutting interest rates and lightening the heavy burden on borrowers.
Why, with inflation nearly conquered and interest rates at a 22-year high, isn't now the time to cut?
High rates could also compound the struggles of banks that are saddled with bad commercial real estate loans, which would be harder to refinance at higher rates.
“We need the government to address the interest rates ... and understand that they’ve accomplished their goal of lowering inflation," Kelleher said.
If so, that might not just delay the Fed's rate cuts, but result in fewer of them.
Persons:
isn't, ”, Steven Blitz, “ They’re, ” Loretta Mester, Mester, “, David Kelleher's Chrysler, Kelleher, ” Kelleher, Powell, ” Powell, we’re, Andrea Kugler, Eric Swanson
Organizations:
WASHINGTON, Federal Reserve, GlobalData, Lombard, Federal Reserve Bank of Cleveland, Jeep, Fed, University of California
Locations:
Wall, Philadelphia, Irvine