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by gunman in matamoros was a case of mistaken identity. u.s. official tells cnn a mexican cartel likely mistook the americans for haitian drug smugglers when in fact they were tourists there for medical procedures. at least three of the victims were from lake city, south carolina. the mother of one says there is not much to to ndo now but pray wait. >> the waiting is the worst part. it has its advantages and disadvantages. but however, no news is good news. that is the way i'm staying with it. no news is good news. >> reporter joining me live from bogota. what are the governments doi...

Comfort to many americans who are still paying more than they were pre-pandemic for everything from food to shelter, the cost of borrowing money is still much higher. the federal reserve has insisted it will not cut interest rates until it sees the sustained drop anyoneflation. chairman powell, rich, as you know has repeatedly said he will wait until inflation comes back to the target rate of 2%. odds of a ratings cut intlor. now for december 50%. >> rich: potential for rate cut. people waiting for rate cut that, translates directly to purchasing a home and borrowing money. purchasing a car an...

The Fed meets eight times a year to set monetary policy that affects how Americans borrow and save. Here's when the FOMC meets next.

A sluggish housing market for most of last year began to heat up as the calendar turned to 2024. A surge in mortgage rates accounts for the slowdown in the housing market, experts told ABC News, pointing to elevated home prices pushed out of reach for most consumers when combined with high borrowing costs. The jump in mortgage rates is due to stubbornly high inflation that has delayed interest rate cuts at the Federal Reserve, experts said.

Who are the cornerstone pieces? How much work is there to do?