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Saint Mary’s County commissioner recounts Fed visit, warns high rates are slowing housing market and labor recruitment
Summary
A Saint Mary’s County commissioner said a Richmond Federal Reserve vice president visited local nonprofits and the Chamber of Commerce, and the meeting highlighted nationwide housing affordability and local labor shortages tied to higher interest rates.
Commissioner (unnamed) said a vice president from the Richmond Federal Reserve, Andrew Bauer, visited Saint Mary’s County to hear from nonprofit groups and the Chamber of Commerce about local economic concerns, including housing affordability and labor shortages. “Rising tide floats all boats,” the commissioner said, arguing that lower interest rates would spur economic development and raise county revenues.
The com…
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