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Working Lunch Thursday, May 8, 2025 | | |
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It's lunchtime, Chicago. The Housing Authority of Cook County is facing a potential multimillion-dollar funding shortfall that could have
broad repercussions throughout the real estate market as the struggling agency looks to cut costs, possibly leading to greater expenses for its housing voucher holders and a decline in the number of the people it serves. Meanwhile, the Federal Reserve kept its key interest
rate unchanged Wednesday, brushing off President Donald Trump’s demands to lower borrowing costs, and said that the risks of both higher unemployment and higher inflation have risen, an unusual combination that puts the central bank in a difficult spot. Read that story and more in today's Working Lunch. Top business stories | Real estate | | | | The agency cites an increase in its voucher usage rate and rising rents, which eat into limited dollars allocated by the U.S. Department of Housing and Urban Development. | | | | | The Fed kept its rate at 4.3% for the third straight meeting, after cutting it three times in a row at the end of last year. | | | | | The policy to use city cash to help finance housing construction could set an example for other locales seeking to build affordable homes amid waning federal support. | | | | | SBA representative Willette LeGrant visited Flossmoor business owners Wednesday as part of National Small Business Week. | | | | | It applied for two-year exemptions from hazardous air pollutant rules for integrated iron and steel, coke and taconite iron ore process, saying the three rules were not supported by science or law. | | | | | AAA20's co-founder said costs are high in Chicago, but the company kept its facility in the city. | | | |
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