The Daily Money: When can we expect a rate cut?
Good morning! It’s Daniel de Visé with your Daily Money, Jerome Powell edition.
Despite intensifying political pressure, the Federal Reserve chair is standing by the central bank’s wait-and-see approach to interest rate cuts.
Powell repeated Tuesday that the Fed plans to assess the effects of President Donald Trump’s tariffs before lowering rates, brushing off mounting pressure from both Trump, his own Fed colleagues, and Republican lawmakers.
When, then, can we expect a rate cut?
Lawmakers seek answers to housing crisis
As the housing crisis deepens across the United States, policymakers are increasingly looking for answers.
On June 24, Rep. Rashida Tlaib, D-Michigan., brought concerns about housing costs to an unlikely venue: the semiannual testimony of Jerome Powell on Capitol Hill.
More than half of the Black women in the counties Tlaib represents have experienced some sort of eviction, she said. Those numbers, she said, are “horrific.”
But what can the Federal Reserve do about the housing crisis? Answers here.
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🍔 Today's Menu 🍔
Soon, original glazed doughnuts will no longer be dessert options alongside Oreo McFlurrys and Hot Fudge Sundaes: McDonald's and Krispy Kreme have announced the end of their partnership.
Earlier this year, the fast food giant began offering three types of Krispy Kreme treats at about 2,400 McDonald's locations.
About The Daily Money
Each weekday, The Daily Money delivers the best consumer and financial news from Paste BN, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you.
Daniel de Visé covers personal finance for USA Today.