Powell Q&A: House price rises aren't driven by irresponsible lending

Author: Adam Button | Category: Central Banks

Powell answers questions in the House

Powell answers questions in the House
  • House price rises aren't driven by irresponsible lending
  • Low rates are part of higher house prices but changes in preferences are as well
  • Building supply materials are also contributing to home prices rises
  • Housing prices are climbing at a high rate
  • More housing supply would alleviate home price rises
  • Expects a Fed report on central bank digital currency in Sept
  • Incoming inflation data has been higher than expected, but is still consistent with what we were talking about (regarding transitory inflation)
  • Cites school reopening that should ease labor market
Treasury yields remain near the lows of the day with 10s down 4.7 bps to 1.37%. Overall though you can't point to a headline from Powell in the Q&A that's moved the market.

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