Business Rundown: "The One-Two Punch" In The Housing Market

Record-high home prices in May have dried up summer sales, and retail sales floundered as consumers are feeling the inflation pinch. Could the Fed come to the rescue with an anticipated rate cut, or must Americans continue to pull back their pocketbooks in a summer of high prices? FOX Business' Gerri Willis speaks with the CEO of Mahoney Asset Management, Ken Mahoney, about all of this and more. They cover homebuyers' shrinking budgets as media housing prices hit record levels, how inflation is driving consumer spending down, and why economists should be "careful what they wish for" when it comes to Fed rate cuts. Learn more about your ad choices. Visit megaphone.fm/adchoices