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If only there were a dial that turned counterclockwise would reduce the cost of housing in America.

I'm David Brancaccio in Los Angeles.

First, how to be a detective when watching the Federal Reserve briefing tomorrow.

Catherine Ann Edwards is a Houston-based labor economist and host of the Optimist Economy podcast.

Interest rates are not going down

tomorrow, but what will you be looking for, Catherine? I will be looking for, you know, meeting

minutes on how they update their beliefs from the last meeting. These are actually quite easy

to follow. You can look at like track changes in word and they'll cross out one word

like concerned and replaced it with following. So looking for those type of even small changes to

their, basically their projections or their concerns or their beliefs about the economy,

those small things can trigger, you know, big cues about what is going on at the Fed and their thought process.

Yes, we should remind ourselves. A lot of headlines are captured about what the Fed will hint about the future of interest rate changes.

But there's also very rigorous information contained about, you know, where they think the labor market is, if we're going to find a job or if we're going to lose a job?

They have to process both an incredible amount of information, some of it coming in the form of just data.

Here are the numbers. Here's how they look over time. They do a lot of data collection that's much more informal, like commentary from industry leaders, people in certain sectors,

...