This is CBS, I on the world. I'm John Bachelor welcoming Gene Marks back from On the Road with

Gene Marks. A small business columnist for the Guardian newspaper, UK and US Edition, and our hometown newspaper, the

Philadelphia Inquire.

We're now looking at how small business across the country is reacting to the Federal Reserve promise indication, hint, there are a lot of

words here that there will be a reduction in the highest interest rates in 23 years and what that does for business

model going forward.

Gene, a very good evening to you.

Orlando, you visited with contractors.

We care a great deal about them because housing

formation is where progress comes in the United States and right now there's been

a slowdown because of the interest rates in housing.

What did you learn from the contractors?

Good evening to Eugene.

Hi, John.

Yeah, I spoke twice to two separate groups of contractors in Orlando

that are building both commercial and residential

homes and you did hit it right on the head.

They are struggling with higher interest rates to finance their projects. Their customers are struggling with higher interest rates to finance their projects.

Their customers are struggling with higher interest rates

to buy homes and buildings from them.

And we talk about inflation.

I mean, inflation continues to be sticky, John, across the country.

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