Federal Reserve Bank of San Francisco President Mary Daly highlighted that rising housing costs have led to higher inflation, describing the sector as 'broken.' Daly emphasized that while higher interest rates temporarily raise housing costs, they are necessary to combat inflation.
Federal Reserve Bank of San Francisco President Mary Daly said rising housing costs have contributed to higher inflation, calling the sector “broken" https://t.co/GUv63YR0ae https://t.co/FRuXQq6ETO
Federal Reserve Bank of San Francisco President Mary Daly said rising housing costs have contributed to higher inflation, calling the sector “broken.” https://t.co/L5g6rrGd6k
SAN FRANCISCO FED PRESIDENT DALY: HIGHER INTEREST RATES DO RAISE HOUSING COSTS TEMPORARILY, BUT ARE NEEDED TO BRING DOWN INFLATION
DALY: RISING HOUSING COSTS HAVE BEEN A KEY DRIVER OF HIGHER INFLATION
🔴 FED'S DALY: HIGHER INTEREST RATES DO RAISE HOUSING COSTS TEMPORARILY, BUT THEY ARE NEEDED TO BRING DOWN INFLATION.