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- Fed's Waller: Looking closely at real estate to judge appropriateness of monetary stance
Fed's Waller: Looking closely at real estate to judge appropriateness of monetary stance
Fed board of governors member Christopher Waller said on Thursday that he is looking closely at rea estate to judge the appropriateness of the Fed's monetary stance, reported Reuters.
Additional Remarks:
"I am watching whether the sharp, ongoing increase in home prices poses financial stability risks."
"The rising cost of rent has implications for monetary policy."
"The Fed's purchases of mortgage-backed securities in response to pandemic reduced mortgage rates by 40 basis points."
"The recent rebound in mortgage rates, house price rises have made home-buying less affordable."
"Demand for houses is up, supply is constrained... the home price rise isn't fueled by excessive leverage or easy lending."
"I am hopeful that the pandemic-specific factors pushing up home prices and rents will ease in next year or so."
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