Fed's Bostic: Strain in housing market is not as severe as expected

Author: Adam Button | Category: Central Banks

Comments from Bostic in webinar discussion

  • Fed's lending facilities have eased market strain
Housing is an interesting spot. It surprised everyone and that underscores the pent up demand for US housing. Of course, ultra-low interest rates don't hurt.

  • Much of the US economy is based on confidence
  • Seeing signals of increased business and consumer concerns
  • Businesses are examining ways to automate and reduce workers
  • It's "pretty clear" that the crisis will outlast current relief programs and he suggests Congress will "strongly consider" doing more
Earlier today, Bloomberg cited a White House aide saying the President wants a new stimulus package done by the August recess. Congress returns July 20.
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