Monetary policy is one of the factors contributing to the rise in house prices

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FOMC Chairman Jerome Powell testifies before the Senate Committee on Banking, Housing and Urban Affairs on the “Semiannual Monetary Policy Report to Congress.”

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“Monetary policy is one of the factors contributing to the rise in home prices along with other factors.”

“The difference between Treasury purchases and mortgage-backed securities purchases is not very large.”

“Undecided on whether the benefits of a central bank’s digital currency outweigh the costs.”

“A more direct route would be to properly regulate stablecoins.”

“We would like broad support in society and in Congress before creating a central bank digital currency.”

“Our obligation is to explore both the technology and the policy issues to make an informed recommendation on CBDC.”

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