Reported about 15 hours ago
US Treasury Secretary Scott Bessent indicated that high interest rates could be pushing parts of the U.S. economy, especially the housing sector, into recession. He suggested that while the overall economy remains strong, high mortgage rates are impacting low-end consumers the hardest. Bessent urged the Federal Reserve to consider faster rate cuts to alleviate the economic strain, as pending home sales remain stagnant.
Source: YAHOO