President Biden's remark that ``interest rates are bound to come down'' spreads ripples. In addition to rising housing construction costs due to inflation, mortgage interest rates have also increased.
Some members of the ruling Democratic Party have called for the Federal Reserve to cut interest rates as soon as possible. Financial markets are predicting that inflation will slow down by the end of the year. There is widespread speculation that interest rates will be cut at an unexpected time.. President Biden emphasized his commitment to lowering housing costs in his speech today.