SUBSCRIBE TO OUR FREE NEWSLETTER
Daily news & progressive opinion—funded by the people, not the corporations—delivered straight to your inbox.
5
#000000
#FFFFFF
");background-position:center;background-size:19px 19px;background-repeat:no-repeat;background-color:var(--button-bg-color);padding:0;width:var(--form-elem-height);height:var(--form-elem-height);font-size:0;}:is(.js-newsletter-wrapper, .newsletter_bar.newsletter-wrapper) .widget__body:has(.response:not(:empty)) :is(.widget__headline, .widget__subheadline, #mc_embed_signup .mc-field-group, #mc_embed_signup input[type="submit"]){display:none;}:is(.grey_newsblock .newsletter-wrapper, .newsletter-wrapper) #mce-responses:has(.response:not(:empty)){grid-row:1 / -1;grid-column:1 / -1;}.newsletter-wrapper .widget__body > .snark-line:has(.response:not(:empty)){grid-column:1 / -1;}:is(.grey_newsblock .newsletter-wrapper, .newsletter-wrapper) :is(.newsletter-campaign:has(.response:not(:empty)), .newsletter-and-social:has(.response:not(:empty))){width:100%;}.newsletter-wrapper .newsletter_bar_col{display:flex;flex-wrap:wrap;justify-content:center;align-items:center;gap:8px 20px;margin:0 auto;}.newsletter-wrapper .newsletter_bar_col .text-element{display:flex;color:var(--shares-color);margin:0 !important;font-weight:400 !important;font-size:16px !important;}.newsletter-wrapper .newsletter_bar_col .whitebar_social{display:flex;gap:12px;width:auto;}.newsletter-wrapper .newsletter_bar_col a{margin:0;background-color:#0000;padding:0;width:32px;height:32px;}.newsletter-wrapper .social_icon:after{display:none;}.newsletter-wrapper .widget article:before, .newsletter-wrapper .widget article:after{display:none;}#sFollow_Block_0_0_2_0_0_0_1{margin:0;}#sSHARED_-_Social_Desktop_0_0_10_0_0_0.row-wrapper{margin:40px auto;}#sBoost_post_0_0_0_0_0_0_1_0{background-color:#000;color:#fff;}.boost-post{--article-direction:column;--min-height:none;--height:auto;--padding:24px;--titles-width:calc(100% - 84px);--image-fit:cover;--image-pos:right;--photo-caption-size:12px;--photo-caption-space:20px;--headline-size:23px;--headline-space:18px;--subheadline-size:13px;--text-size:12px;--oswald-font:"Oswald", Impact, "Franklin Gothic Bold", sans-serif;--cta-position:center;overflow:hidden;margin-bottom:0;--lora-font:"Lora", sans-serif !important;}.boost-post:not(:empty):has(.boost-post-article:not(:empty)){min-height:var(--min-height);}.boost-post *{box-sizing:border-box;float:none;}.boost-post .posts-custom .posts-wrapper:after{display:none !important;}.boost-post article:before, .boost-post article:after{display:none !important;}.boost-post article .row:before, .boost-post article .row:after{display:none !important;}.boost-post article .row .col:before, .boost-post article .row .col:after{display:none !important;}.boost-post .widget__body:before, .boost-post .widget__body:after{display:none !important;}.boost-post .photo-caption:after{content:"";width:100%;height:1px;background-color:#fff;}.boost-post .body:before, .boost-post .body:after{display:none !important;}.boost-post .body :before, .boost-post .body :after{display:none !important;}.boost-post__bottom{--article-direction:row;--titles-width:350px;--min-height:346px;--height:315px;--padding:24px 86px 24px 24px;--image-fit:contain;--image-pos:right;--headline-size:36px;--subheadline-size:15px;--text-size:12px;--cta-position:left;}.boost-post__sidebar:not(:empty):has(.boost-post-article:not(:empty)){margin-bottom:10px;}.boost-post__in-content:not(:empty):has(.boost-post-article:not(:empty)){margin-bottom:40px;}.boost-post__bottom:not(:empty):has(.boost-post-article:not(:empty)){margin-bottom:20px;}:root{;}@media (min-width: 1024px){#sSHARED_-_Social_Desktop_0_0_10_0_0_0_1{padding-left:40px;}}.donation_banner{position:relative;background:#000;}.donation_banner .posts-custom *, .donation_banner .posts-custom :after, .donation_banner .posts-custom :before{margin:0;}.donation_banner .posts-custom .widget{position:absolute;inset:0;}.donation_banner__wrapper{position:relative;z-index:2;pointer-events:none;}.donation_banner .donate_btn{position:relative;z-index:2;}#sSHARED_-_Support_Block_0_0_13_0_0_3_1_0{color:#fff;}#sSHARED_-_Support_Block_0_0_13_0_0_3_1_1{font-weight:normal;}#sElement_Post_Layout_Press_Release__0_0_1_0_0_11{margin:100px 0;}.grey_newsblock .newsletter-wrapper, .newsletter-wrapper, .newsletter-wrapper.sidebar{background:linear-gradient(91deg, #005dc7 28%, #1d63b2 65%, #0353ae 85%);}.black_newsletter{background:linear-gradient(91deg, #005dc7 28%, #1d63b2 65%, #0353ae 85%);}.black_newsletter .newsletter_bar.newsletter-wrapper{background:none;}
To donate by check, phone, or other method, see our More Ways to Give page.
Daily news & progressive opinion—funded by the people, not the corporations—delivered straight to your inbox.
More than 50 progressive organizations sent a strong message of united resistance to the Trump administration on the same day his cabinet hearings begin on Capitol Hill. In a video and public pledge, movement leaders including NAACP President Cornell Brooks, Greenpeace USA Executive Director Annie Leonard, and SEIU International President Mary Kay Henry pledged to defend everything they say that Trump most urgently threatens including civil rights, immigrants, women's reproductive rights, social equality, action on climate change, public health and safety, public dissent, and access to information.
https://www.unstoppabletogether.org/
As part of the United Resistance campaign, groups pledge to work together across issues, unify respective networks, and function in a multilateral fashion that provides a better future for America than Trump is offering. The campaign is launching the same week as the involved organizations are leading various initiatives to block Trump's cabinet appointees including Secretary of State nominee Rex Tillerson and Attorney General nominee Jeff Sessions.
More than 50 organizations have signed onto the pledge and several are featured in the video.
Advancement Project (National)
Asian Pacific Environmental Network
Brave New Films
Center for Biological Diversity
Climate Justice Alliance
Coalition for Humane Immigrant Rights of Los Angeles (CHIRLA)
Color Of Change
Common Cause
Communications Workers of America (CWA)
Daily Kos
Democracy Initiative
Demos
Ella Baker Center for Human Rights
Every Voice
Food & Water Action Fund
Forward Together
Free Press
Friends of the Earth
Grassroots Global Justice Alliance
Green For All
Greenpeace, Inc
Indigenous Environmental Network
Jewish Voice for Peace
Jobs With Justice
Labor Network for Sustainability
MoveOn.org
NAACP
NARAL
National Domestic Workers Alliance
National LGBTQ Task Force Action Fund
National Network for Arab American Communities
Oakland Institute
Oil Change International
OneAmerica
One Billion Rising
Our Revolution
People's Action
People For the American Way
Planned Parenthood Action Fund
Public Citizen
Rainforest Action Network
Restaurant Opportunities Centers (ROC) United
RootsAction.org
Sierra Club
The Story of Stuff Project
United We Dream
Working Families Party
World Beyond War
V-Day
350.org
https://www.unstoppabletogether.org/
Quotes From Participating Organizations:
"Trump is not on the side of the American people. After promises of "draining the swamp, his cabinet is now full of more billionaire lobbyists and executives than any administration in history. This President will never know what it feels like to worry about the water his family is drinking, to wonder if his house will survive the next superstorm, or if his child will face hateful bullying at school. It is up to each one of us to protect each other, to fight for each other, and to resist the ways in which Donald Trump threatens America," said Greenpeace USA Executive Director Annie Leonard.
"The American people elected Hillary Clinton president by a nearly three-million vote margin. The 48 Democrats in the new Senate received over 78 million votes combined, compared to the 55 million earned by the 52 Republicans. The American people have clearly rejected the GOP's values of hate, intolerance, greed and bigotry, and we are proud to stand with the American majority in fighting for inclusion, tolerance, compassion and hope."
- Markos Moulitsas, Founder and Publisher of Daily Kos
"Our movement to advance the fundamental values of justice and democracy, for the empowerment of immigrant and refugee communities, for Muslims and other religious minorities in the United States is ready to protect our families, to assert our presence, and to challenge our nation to live up to its values as a nation built by immigration. I'm heartened by the energy to resist in our own communities, and by the broad coalition of movements coming together to stand and defend each other, whatever the Trump Administration throws at us. At stake is a vision for our nation and world grounded in racial and social justice, committed to improving the lives of every American, and realizing a healthy and diverse future where everyone can thrive. We stand with our sisters and brothers in the intersections of racial, economic and climate justice."
- Rich Stolz | Executive Director | OneAmerica
"Solidarity forever must include solidarity now -- intensive, sustained and determined to defend past gains as well as make future ones possible. Everything that we hold dear is at stake." -Norman Solomon, Coordinator, RootsAction.org
"Green For All stands against Trump's effort to auction off our air, water, and climate to the highest bidder. We resist efforts to prioritize profit over human life and stand with frontline communities, those in small towns and urban areas who face the brunt of pollution, to fight for climate solutions that put them first. We will fight alongside the underdogs, those most ignored, to ensure that their voices are heard because we all deserve clean air, clean water and a healthy environment to raise our kids."
-Vien Truong, Director of Green For All
"The corporate cartel that works to wage wars, pollute the planet, concentrate the wealth, and restrict the rights of dissenters finds a way to all work together. Those of us seeking a better world -- a sustainable world at all -- must work together to resist the path the U.S. government is on and to project and push forward a better one. Our collective numbers give us power, and our interlocking issues give us a persuasive alternative. Shifting military spending to human and environmental needs makes a world beyond our dreams perfectly achievable."
- David Swanson, Director of World Beyond War
"The Sierra Club's mission is to protect both the natural and the human environment. That is why we stand in solidarity with organizations fighting for a fair and safe America that protects everyone. We stand with workers and working families, for women's rights and LGBTQ rights, with people of all faiths and backgrounds, for public health and economic fairness, and on the side of racial justice and immigrant families. To change everything it takes everyone, and that's exactly why we're going to stand up together over the next four years and fight to protect the people and places that we love.
- Michael Brune, Sierra Club Executive Director
"Democracy is strengthened by welcoming people of all backgrounds and views in building a country that recognizes the self-worth of every individual and every voice," said David Donnelly, President and CEO of Every Voice. "Unfortunately, Donald Trump has repeatedly shown that he has no interest in doing what's necessary to expand and protect our democracy--and in fact, in policy and words, he has done the opposite. We are committed to fighting everyday, united with allied organizations and millions of Americans, for a political system that works for all of us and we fill fiercely defend the rights of our fellow citizens to be heard, respected, and counted."
"Trump's presidency represents an existential threat to an open internet and an adversarial press," said Free Press CEO and President Craig Aaron. "Based on its appointments and actions so far, the Trump administration appears committed to undermining everyone's rights to connect and communicate. We're dedicated to fighting Trump's agenda on media and technology while supporting the resistance efforts of groups doing important work elsewhere. Trump has named numerous people to his administration and transition team with long histories of support for dangerous and often racist policies and actions. Many others have openly campaigned to gut essential public safeguards in every area from worker safety to the environment to telecommunications. All must be resisted from day one."
"The Trump administration promises to roll back our environmental laws, gut civil rights protections, and enrich the pockets of Wall Street at the expense of everyone else," says Wenonah Hauter, Executive Director of Food & Water Action Fund. "We can't let this happen--and together, we can resist the worst effects of his presidency. We'll keep the pressure on our elected officials to represent the majority of Americans that want safe food, clean water, a stable climate, and a democracy that works for all of us."
"As the chief law enforcement officer, the attorney generally has far-reaching decision making power over issues that impact every person in the U.S." said Kalpana Krishnamurthy, Policy Director at Forward Together, a national advocacy organization. "If appointed, he will be the final decision maker on if the FBI can profile Muslim members of our community, whether or not to sanction stop and frisk policies, oversight of our prisons, the Department of Justice and drug enforcement. He has a track record of disregarding civil rights, denying racism, and promoting a radical agenda that would undo many of the laws that have given voice to communities of color historically shut out of our democracy. His values don't reflect an America where all people can thrive and we are united in opposition to his nomination."
"The blueprint for failure is division and ambivalence in the wake of a united conservative agenda that is intentionally undermining our democracy and threatening our communities," said Judith Browne Dianis, Executive Director of Advancement Project's national office. "Our power to resist and reclaim our democracy is rooted in our shared commitment to dismantling interwoven systems of oppression. We are putting the new administration on notice: every day of the next four years, be prepared to confront powerful organized communities who refuse to be silenced."
"At Rainforest Action Network, we stand for people and planet. But today, we need to stand firmly in opposition to a systemic assault on our values from the incoming administration. We are pledging to oppose those who would deny science and deny climate change. We are pledging to oppose those who would gut environmental protections in the name of corporate profits. We are pledging to stand for civil rights, to stand for human and labor rights, and to stand with those directly impacted by global forest destruction and climate change." - Lindsey Allen, Executive Director, Rainforest Action Network
"We have witnessed one of the most contentious and emotional political races in our country's history. What we have learned is that, now, more than ever, we need to come together to uphold our shared values of freedom and equality for all. Arab and Muslim Americans have long dealt with xenophobia, Islamophobia, racism and bigotry. Throughout the presidential election, we were faced with many unprecedented obstacles, and yet we persevered and remained committed to improving and empowering our communities. We know we must maintain our spirit of advocacy and become stronger leaders for a more hopeful future." - Nadia El-Zein Tonova, Director of the National Network for Arab American Communities (NNAAC)
"America is great when it becomes more inclusive, more democratic and more just. The Trump administration threatens these values, and democracy itself. Against this threat, We the People will protect our democracy and the values we most cherish by exercising our democratic rights. We will stand together to reject efforts to denigrate, injure or exclude Muslim Americans, immigrants or any other targeted community. We will reject Trumpism and assert the central importance of love and solidarity, kindness and decency to who we are a country and a people." - Robert Weissman, President of Public Citizen
Dan Cantor, National Director, Working Families Party: "Donald Trump is a dangerous narcissist. We need to block his agenda of greed and division, and and we need to stand together to do it. That's the only hope for building a nation that works for all of us."
"Trump's presidency threatens immigrants, African Americans, Muslims, workers, women, children, the elderly, the disabled, LGBTQ people, and many others. Indeed, it threatens all that holds us together as a society. We the people - society -- need to defend ourselves against this threat and bring it to an end. Resisters to repressive regimes elsewhere have called such resistance to tyranny "Social Self-Defense." The struggle to protect our people and planet against the Trump agenda requires such a strategy. Therefore we are proud to join the United Resistance Campaign as a form of Social Self Defense." -Michael Leon Guerrero, Labor Network for Sustainability
"If Trump thinks this wave of opposition and resistance will burn out quickly and die, he's dead wrong," said Kieran Suckling, Executive Director of the Center for Biological Diversity. "We'll be there every day, every week and every year to oppose every policy that hurts wildlife; poisons our air or water; destroys the climate; promotes racism, misogyny or homophobia; and marginalizes entire segments of our society."
"We live in a global world where our lives are intertwined. An act of hate against one is an act of hate against all. So we stand here united with all voices of peace, tolerance, racial equity, and justice. We gain our unity from the diversity of our religions, of our sexual preferences, women's rights, and of our racial diversity. We allege to speak for all who are voiceless, marginalized, and criminalized. We are one force, united together for the betterment of humanity." -Anuradha Mittal, Oakland Institute Executive Director
"It's time to get back to the basics: everyday people with a plan, through everyday acts of courage, will eventually make history." - Ai-jen Poo, Director, National Domestic Workers Alliance
Greenpeace is a global, independent campaigning organization that uses peaceful protest and creative communication to expose global environmental problems and promote solutions that are essential to a green and peaceful future.
+31 20 718 2000"Because we believe that housing is a human right, like food or healthcare, we believe that more Americans deserve the option of social housing."
"It's becoming nearly impossible for working-class people to buy and keep a roof over their heads. Congress must respond with a plan that matches the scale of this crisis."
That's according to U.S. Rep. Alexandria Ocasio-Cortez (D-N.Y.) and Sen. Tina Smith (D-Minn.), who on Wednesday introduced the Homes Act in a New York Timesopinion piece and an event with supporters of the proposal on Capitol Hill.
"Because we believe that housing is a human right, like food or healthcare, we believe that more Americans deserve the option of social housing," the pair wrote in the Times. "That's why we're introducing the Homes Act, a plan to establish a new, federally backed development authority to finance and build homes in big cities and small towns across America. These homes would be built to last by union workers and then turned over to entities that agree to manage them for permanent affordability: public and tribal housing authorities, cooperatives, tenant unions, community land trusts, nonprofits, and local governments."
"Our housing development authority wouldn't be focused on maximizing profit or returns to shareholders," the congresswomen continued. "Rent would be capped at 25% of a household's adjusted annual gross income. Homes would be set aside for lower-income families in mixed-income buildings and communities. And every home would be built to modern, efficient standards, which would cut residents' utility costs. Renters wouldn't have to worry about the prospect of a big corporation buying up the building and evicting everyone. Some could even come together to purchase their buildings outright."
In addition to establishing the new authority under the Department of Housing and Urban Development, the bill would repeal the Faircloth Amendment, which prevents the use of federal money for building new public homes. Under the new plan, construction would be funded by congressional spending and Treasury-backed loans.
"In New York, the average worker would need to clock in 104 hours a week to afford a one-bedroom apartment," Ocasio-Cortez said in a statement. "This country is staring down a full-blown housing crisis. A crisis where affordable housing is slipping out of reach."
"This bill would create more than 500,000 jobs and create 1.25 million affordable housing units," she noted, declaring that "everyone deserves a place to call home."
It's not just New York City where lower-wage people are struggling to keep a roof over their heads. Smith pointed out that "more than 90% of workers cannot afford a modest one-bedroom apartment. Americans across the country are bidding for homes against the wealthiest financial firms and they're losing."
"We have a severe housing crisis," she stressed. "The private market cannot meet this moment on its own. The Homes Act meets peoples' needs through social housing."
As Jacobin's Samuel Stein wrote Wednesday:
The housing system sketched out in the Homes Act looks nothing like what we are used to in the United States. Though we have an important social housing legacy, we have never normalized decommodification as the cornerstone of our housing system.
Introducing legislation like the Homes Act does not accomplish that goal in and of itself, but it offers us a concrete depiction of what that transition could look like. It also highlights the severe disjuncture between what our housing and urban planning system does right now—promote private profits in real estate while minimizing the public provision of housing—and what we need it to do.
The goal of legislation like this is not to pass it immediately, since no sober person would expect the current U.S. Congress to line up in support. Nor is the goal to supplant the messy work of organizing with the schematic and technical language of legislation. Instead, the point is to inspire organizing: to show that the status quo is not the only way our housing could operate, to give tenant organizations a concrete and affirmative vision to build toward, and to offer socialist candidates for office a platform to run on.
The bill to create a social housing authority—introduced less than two months out from the U.S. general election—is backed by the Center for Popular Democracy (CPD) and its affiliates from across the country.
"Working families are being forced to make sacrifices in order to pay the skyrocketing cost of keeping a roof over their heads, while corporate landlords and Wall Street executives are getting even richer," said CPD co-executive directors Analilia Mejia and DaMareo Cooper. "This legislation provides a clear alternative to for-profit housing. It creates a framework to make community-owned, permanently affordable green social housing a reality."
Advocates from both sponsors' states also spoke out in favor of the bill.
"In Greater Minnesota, counties and towns don't have staff to build affordable housing projects, financing is another huge issue. We don’t have as many philanthropic organizations or financial institutions as urban areas," explained Noah Hobbs, policy director at One Roof Community Housing in Duluth. "This bill is the first real investment we've had in years. We're incredibly proud to endorse this legislation."
Aisha Hernandez, secretary of the Coalition to Save Affordable Housing at Co-op City in the Bronx, said that "cooperative housing gave me the ability to co-own my home. A few years ago, my neighbors and I came together to ensure our housing stays affordable, that our management is working in the interest of homeowners and prevent any corporate takeover of Co-op City."
"We are co-owners, not at the whims of corporate landlords," Hernandez added. "I want my fellow Americans to have the same access to housing that co-op has afforded me. This bill has the ability to do that. So let's get it done."
"This research provides a view into just how embedded the corporate, profit-fueled war machine is in our higher education and cultural institutions," said one campaigner.
A trio of human rights groups on Wednesday announced a new interactive initiative exposing what the coalition is calling a "Genocide Gentry" of weapons company executives and board members and "54 museums, cultural organizations, universities, and colleges that currently host these individuals on their boards or in other prominent roles."
The coalition—which consists of the Adalah Justice Project, LittleSis, and Action Center on Race and the Economy (ACRE)—published a map and database detailing the "educational and cultural ties to board members of six defense corporations" amid Israel's ongoing annihilation of Gaza, for which the U.S.-backed country is on trial for genocide at the International Court of Justice.
" Israel has destroyed every university in Gaza and nearly 200 cultural heritage sites since October 2023, using bombs and weapons manufactured by the companies included in the Genocide Gentry research," the coalition said. "As of April, these attacks have killed more than 5,479 students and 261 teachers and destroyed or critically damaged nearly 90% of all school buildings in Gaza."
"Universities across the country including the likes of Columbia University, Harvard University, the University of Southern California, and New York University have remained largely silent on Israel's genocidal campaign in Gaza," the groups added. "Behind closed doors, these same universities are hosting executives and board members of the companies manufacturing the weapons used in these attacks as board members, trustees, and fellows."
Members of the Genocide Gentry include:
"Students on university campuses across the country have not only been demanding divestment, but transparency," said Sandra Tamari, executive director of the Adalah Justice Project. "Transparency about their institutions' investments, partnerships, donors, and decision-makers, and their connections to individuals and companies directly enabling and profiting off war and genocide."
"This research helps provide some of this transparency by illuminating just how embedded the interests of the weapons industry are within our institutions, so we can begin chipping away at the power and influence that they wield," she added.
ACRE campaign director Ramah Kudaimi noted that "as part of its genocide since October 2023, Israel has targeted universities and cultural centers across Gaza, destroying campuses, museums, libraries, and more."
"That this is all backed by the United States means U.S. educational and cultural institutions have a responsibility to consider what their role is in helping end these war crimes, and that starts with reconsidering their connections with the weapons companies profiting from the destruction," Kudaimi said.
Munira Lokhandwala, director of the Tech and Training program at LittleSis, said: "This research provides a view into just how embedded the corporate, profit-fueled war machine is in our higher education and cultural institutions. Through this research, we show how the defense industry shapes and influences our civic and cultural institutions, and as a result, their silence around war and genocide."
"We must ask our institutions: What role are you playing in whitewashing war and destruction by inviting those who profit from manufacturing weapons onto your boards and into your galas?" she added.
"The Fed must continue to cut rates aggressively in the coming months to prevent a slowing labor market and provide much-needed relief to people who are bearing the brunt of high interest rates," said one economist.
Economists and working-class people across the United States on Wednesday welcomed the Federal Reserve's decision to cut its benchmark interest rate by half a percentage point as an incredibly overdue and necessary move.
In line with signals from Fed Chair Jerome Powell's speech last month, the Federal Open Market Committee lowered the federal funds rate by half a percentage point to 4.74-5%, the first cut "since March 2020 when Covid-19 was hammering the economy," as The Associated Pressnoted. Additional cuts are expected over the next two years.
"Finally," wrote Kenny Stancil, a senior researcher at the Revolving Door Project and former Common Dreams staff writer, in a blog post. "The Fed should have provided interest rate relief months ago. While this overdue move is welcome, we must reiterate that Powell's deferral of interest rate cuts has hurt the clean energy transition and inflicted other economic harms."
Lawmakers and experts, including Groundwork Collaborative chief economist Rakeen Mabud, have long called for rate cuts and highlighted the harms of refusing to pursue them.
"Today's rate cut is a step in the right direction, but only a first step," said Mabud in a statement Wednesday. "The Fed must continue to cut rates aggressively in the coming months to prevent a slowing labor market and provide much-needed relief to people who are bearing the brunt of high interest rates."
Center for Economic and Policy Research senior economist Dean Baker also welcomed that the Fed is changing course, saying: "This is a belated recognition that the battle against inflation has been won. Contrary to the predictions of almost all economists, including those at the Fed, this victory was won without a major uptick in unemployment."
"Unfortunately, the Fed waited too long to make this turn," Baker continued. "As a result, the unemployment rate has drifted higher. While there is little basis for concerns about a recession, if the unemployment rate is 0.5 percentage points higher than it needs to be, that translates into 800,000 people out of work who want jobs."
"It is good that the Fed has now recognized the weakening of the labor market and responded with an aggressive cut," he added. "Given there is almost no risk of rekindling inflation, the greater boost to the labor market is largely costless. Also, it will help to spur the housing market where millions of people have put off selling homes because of high mortgage rates."
Liz Zelnick of Accountable.US similarly stressed the benefits, saying that "while it should have come sooner, the Fed's interest rate cut will ease some burden for many Americans that found it simply too expensive to buy new homes or cars."
"Fortunately, the Fed's aggressive interest rate strategy defied odds and did not spur a recession as the economy continues to grow hundreds of thousands of jobs every month while wages are rising," she said. "Persistently high interest rates were never going to get at the root of the corporate price gouging epidemic that has needlessly kept prices high on many necessities—a problem that is on Congress to fix."
Some members of Congress who have been pushing for rate cuts also applauded the belated action—including Sen. Martin Heinrich (D-N.M.), chair of the Joint Economic Committee.
"Let's be clear: Today's decision is a big win for families across the country," he declared. "Lower rates mean that more families will be able to buy a home or a car without high interest payments looming over them, and their credit card bills will go down."
"But there is still work to be done," he said. "I will continue to work with my colleagues to fight for policies that raise wages, strengthen our economy, create new jobs, and lower prices for families in New Mexico and across the country."
Congressman Brendan Boyle (D-Pa.), ranking member of the House Budget Committee, has also criticized the central bank's refusal to cut rates and praised the Wednesday reversal.
"We've made significant progress on inflation, but House Democrats know there is more to be done to bring down the cost of everyday goods and take on corporate price gouging," Boyle said, nodding to the November election in which former Republican President Donald Trump is facing Democratic Vice President Kamala Harris.
"While House Republicans continue trying to inflict higher costs and higher taxes on the middle class with Trump's Project 2025 agenda," he added, "House Democrats will never stop fighting to deliver an economy that works for working families."
Harris similarly applauded the "welcome news for Americans who have borne the brunt of high prices" while acknowledging that more must be done and vowing that "my focus is on the work ahead to keep bringing prices down."
"I know prices are still too high for many middle-class and working families, and my top priority as president will be to lower the costs of everyday needs like healthcare, housing, and groceries. That is why I am proposing plans to cut taxes for more than 100 million working and middle-class Americans, pass the first-ever federal ban on corporate price gouging on food and groceries, and make housing more affordable by building 3 million new homes and giving more Americans down payment assistance," she said.
The Democrat also took aim at Trump's intentions, warning that "while proposing more tax cuts for billionaires and big corporations, his plan would increase costs on families by nearly $4,000 a year by slapping a Trump Tax on goods families rely on, like gas, food, and clothing. He wants to repeal the law I cast the tie-breaking vote to pass that caps the costs of prescription drugs for seniors, including insulin at $35. He would end the Affordable Care Act and erase the progress we have made to lower premiums for millions of Americans by hundreds of dollars a year."
"Sixteen Nobel Prize-winning economists say his plan would increase inflation, and a Moody's report found it would cause a recession by the middle of next year," she noted. "This election is about whether we are going to finally build an opportunity economy that gives every American a shot not just to get by, but to get ahead. As president, that will be my priority every day."