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Interest rate cuts can't fix America's "structural housing shortage," Fed chair Jerome Powell said.
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NPR's Michel Martin speaks with Mark Zandi, chief economist at Moody Analytics, about the Federal Reserve's decision to cut interest rates and what it means for consumers.
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The Federal Reserve voted to cut interest rates Wednesday by another quarter percent, in an effort to prop up a sagging job market. Fed officials warned they'll be cautious about more cuts in 2026.
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The central bank cut interest rates by a quarter of a percentage point, seeking to steady a softening labor market.
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The Fed approved a much-anticipated quarter percentage point interest rate cut at a meeting that was packed with intrigue and surprises.
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