A run-up in U.S. interest rates to the highest levels in decades has been a major draw for overseas investors.
They said the cooling could have a limited impact on unemployment in the U.S.
Rent inflation rose 7.7% in the first three months of 2024 from a year ago.
The minds behind the proposal include Steve Forbes and former White House economic adviser Larry Kudlow.
The nation's 32.5 million immigrant workers now account for roughly one in five US workers.
Congressional negotiators are talking about renewing expired business tax breaks and boosting the child tax credit.
Higher prices for goods and services have proved more resilient than central banks had predicted.
For Fed Chair Jerome Powell's forecast to come true, the economy will have to overcome three major obstacles.
A variety of factors are combining to dissipate some of the economic gloom.
Data last week pointed to a cooling in consumer prices.
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