Sen. Elizabeth Warren pushes Fed Chair Powell to cut ‘astronomical’ rates, ease housing pressure

Sen. Elizabeth Warren, D-Mass., and three other Democratic lawmakers are pushing Federal Reserve Chairman Jerome Powell to lower interest rates at the upcoming Fed meeting to make housing more affordable. “As the Fed weighs its next steps in the new year, we urge you to consider the effects of your interest rate decisions on the housing market,” the senators wrote in a letter to Powell on Sunday.