“We are not going to let that happen” he says after a speech in Houston. The housing market will not be a driver of the economy for years and the economy will take quite some time to recover, he says.
After repricing after the US data this morning, markets have fallen into a quiet consolidation, awaiting more economic data tomorrow and Friday. EUR/USD is at 1.2800, USD/JPY at 84.45 and AUD at 0.9080.
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