In a recent hearing, Senators raised concerns to Federal Reserve Chairman Jerome Powell regarding the negative impact of high interest rates on the housing market. Despite these concerns, Powell remained steadfast in his position of waiting for further data on inflation before making any changes to interest rates.
Key points from the hearing include:
– Senators expressing worries about the housing market being harmed by high interest rates
– Federal Reserve Chairman Jerome Powell maintaining a cautious approach and prioritizing data on inflation before considering adjustments to interest rates
– The ongoing debate regarding the balance between supporting economic growth and managing inflationary pressures in the housing market
Overall, the hearing highlighted the complex considerations facing the Federal Reserve when making decisions on interest rates, with policymakers closely monitoring economic data to ensure a balanced approach that supports both economic growth and stability in the housing market.
You can read this full article at: https://www.housingwire.com/articles/powell-the-best-thing-we-can-do-for-housing-is-to-succeed-in-getting-inflation-down-to-2/(subscription required)
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