High interest rates may have caused housing recession, Bessent says
NegativeU.S News

Treasury Secretary Scott Bessent has indicated that parts of the US economy, especially the housing sector, may be experiencing a recession due to high interest rates. He emphasized the need for the Federal Reserve to consider accelerating rate cuts to alleviate the pressure on these struggling sectors. This situation is significant as it highlights the potential ripple effects of monetary policy on the housing market and overall economic stability.
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