Federal Reserve Chair Jerome Powell emphasized the impact of insufficient housing supply on high home prices during a press conference. He stated that the Fed is not directly targeting home prices and lacks the tools to address the issue. Powell also acknowledged the role of interest rate hikes in increasing housing costs, prompting calls for the Fed to cut interest rates to improve housing affordability. Additionally, Powell clarified that the Fed is not involved in housing other than monetizing trillions of mortgage-backed securities, distancing the institution from direct intervention in the housing market. This comes amid debates on the causes of high home prices and the Fed's role in addressing affordability concerns.
What's to blame for high home prices? Fed Chair Powell says 'there hasn't been enough housing built' https://t.co/xrD90OGI8x
Fed Chairman Jerome Powell says not enough housing has been built. He isn't wrong. But that is not the only reason housing is unaffordable. @NewsLambert breaks down more for ResiClub readers. READ: https://t.co/jlsM1omqFd
Blame for high home prices? Fed Chair Powell says 'there hasn't been enough housing built' Powell says the Fed isn’t directly "targeting" home prices "not things we have any tools to address" he added during Wednesday's presser https://t.co/kHEklzXAKQ
Fed Chair Powell's extreme interest rate hikes increased costs for families—including the cost of housing. Chair Powell and the Fed need to cut interest rates so we can make housing more affordable. https://t.co/UNeVf6h4ke
Powell says the Fed's inflation fight is NOT all about U.S. home prices "There hasn't been enough housing built", Powell says, suggesting that Fed rate hikes alone can only do so much
POWELL: FED NOT INVOLVED IN HOUSING OTHER THAN MONETIZING TRILLIONS OF MORTGAGE-BACKED SECURITIES.
#Powell spoke about "goods inflation" and "housing inflation." There's no such thing as either. Prices don't inflate, they rise as a result of inflation. Economic growth actually pushes prices down. It's #inflation that pushes them up. All inflation is caused by the #Fed & Govt.