Philadelphia Federal Reserve Chairman Patrick Harker says inflation is too high for most goods and services in the US economy. “But I find housing inflation, along with inflation, particularly alarming,” he argues, in a text published on Tuesday (27) on the district’s website.
Harker comments on the state of the housing market. He points out that housing prices are advancing at the national level. Since the Great Recession, the US has not built enough housing to keep price growth at a “relatively modest” level, he says. “By most estimates, we are several million homes behind where we need to be.”
The leader emphasizes the importance of the housing sector and that inflation is kept under control. “Monetary policy has a role to play here, and the Federal Reserve is working to stabilize inflation and put the economy on a firmer footing for the long term,” he says. He says that work depends not only on the Fed, but also on the federal government and state and local administrations.
Source: CNN Brasil
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