📈Property insurance rates are increasing, adding to inflation rates.
🏡Rising insurance costs are making housing less affordable for communities.
💰Insurance prices, including property and auto insurance, have gone up significantly.
📊More evidence of low inflation is needed for the Fed to make interest rate decisions.
⏰The Fed is being cautious in its decision-making due to strong economic factors.
Why are property insurance rates becoming expensive?
—Property insurance rates are increasing due to various factors, including rising costs of claims and natural disasters.
How does rising insurance costs impact affordable housing?
—Rising insurance costs make housing less affordable for homeowners and developers, affecting the availability of affordable housing in communities.
Have insurance prices, including property insurance, gone up?
—Yes, insurance prices, including property and auto insurance, have significantly increased.
What evidence is the Fed looking for before making interest rate decisions?
—The Fed is looking for more evidence of sustained low inflation before making any interest rate decisions.
Why is the Fed being cautious in its decision-making?
—The Fed is being cautious due to the strong economic factors and to ensure accurate and sustainable inflation rates.
00:01Miss Velasquez raises concerns about the rising cost of property insurance.
00:13Property insurance rates are becoming prohibitively expensive for homeowners and developers.
03:45Property insurance rates are identified as an increasing risk in the ESO's annual report.
04:09The Fed is monitoring the rising cost of insurance and its impact on the economy.
04:32Chairman Powell acknowledges the increasing prices of insurance, including property and auto insurance.
05:24The Fed is looking for more evidence of sustained low inflation before making interest rate decisions.
05:44The Fed is being cautious in its decision-making due to strong economic factors.
07:08Miss Velasquez raises concerns about the delay in proposing rules on Section 956.
