Powell Acknowledges Putting Pressure On Housing While Teeing Up Rate Cut

By KIMBERLEY HAAS The chair of the Federal Reserve acknowledges that their tightening policies to bring down inflation have affected the housing market, and he is offering a glimmer of hope for analysts who expect a rate cut within the next few months. Jerome Powell testified before the Senate Banking, Housing and Urban Affairs Committee on Tuesday where he talked about the Fed’s semiannual Monetary Policy Report, which details the state of the U.S. economy. Powell was peppered with housing questions by Sen. Jon Tester, a Democrat from Montana. “Regardless of where I go in the state of Montana, housing is a big issue,” Tester said. “Larger towns, the medium-sized towns, to small towns, housing is a huge issue. And…