Signals Point to US Economy's Growth Slowing Down | EWTN News Nightly

About this sermon

Stocks on Wall Street are slumping today amid more signals the US economy's growth is slowing down. The slowdown comes one day after the Federal Reserve set the stage for the first interest rate cut in 4 years. However, the data also raises concerns the US economy could buckle under the weight of the high interest rates. Right now, the interest rate is around 5.6%, a 23 year high. This often leads to higher payments for mortgages and credit cards. Macro-Economist and Research Fellow at George Mason University's Mercatus Center, Patrick Horan, joins to share what the chances are that the Federal Reserve will cut the rates in September and what that could mean for the American people. Horan explains how the unchanged interest rate affects the housing market and consumer prices like gas or groceries. As we move closer to the election, Horan discusses what the overall health of the US economy is. ------------ EWTN News Nightly provides the latest news and analysis from a Catholic perspective. Join host Tracy Sabol, our Capitol Hill, White House and Rome Correspondents, as well as many other diverse guests daily, to get the latest from the U.S. and the Vatican on topics regarding our Catholic faith and interests. ------------- EWTN News Nightly airs on EWTN weekdays at 6pm & 9pm ET. ------------ Don't miss an episode of EWTN New Nightly. Get updates here: https://www.ewtn.com/tv/shows/ewtn-news-nightly ------------- Sign up today to receive the EWTN News Nightly newsletter: https://www.ewtn.com/enn ------------- Follow EWTN News Nightly on Social Media: Facebook: https://www.facebook.com/ewtnnewsnightly Twitter: https://twitter.com/EWTNNewsNightly Instagram: https://www.instagram.com/ewtnnewsnightly/ ------------- Subscribe to EWTN YouTube channel here: https://www.youtube.com/user/EWTN ------------- You can support the EWTN News mission: https://bit.ly/3qDR1qf