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Fed Governor Elizabeth Duke will testify in Congress today, laying out the Fed's case for more...

Fed Governor Elizabeth Duke will testify in Congress today, laying out the Fed's case for more action to bolster a housing market that is a "significant drag" on the economic recovery. The Fed, which issued suggested steps last month to lawmakers and regulators, is being accused by some of overreaching and political meddling.
Comments (3)
  • Economic Analyst
    , contributor
    Comments (2813) | Send Message
     
    "The failure of the housing market to respond to lower interest rates as vigorously as it has in the past indicates that factors other than financial conditions may be restraining improvements in mortgage credit and housing market conditions," she said in the testimony, which was prepared for delivery to the Senate Banking Committee.

     

    Could this place Ms. Duke in the top tier among competitors for the "Understatement of the Year" Award?
    28 Feb 2012, 08:44 AM Reply Like
  • DaLatin
    , contributor
    Comments (1522) | Send Message
     
    Pretty quick EA. I've been touting her appearance since early AM,but, your on it.. The FED as Benny said he had tools,but, buying the mort paper won't really do much. Just positive spin to the red meat QE lovers. It's just time. How much ?
    28 Feb 2012, 11:14 AM Reply Like
  • Economic Analyst
    , contributor
    Comments (2813) | Send Message
     
    Right now we're looking at a minimum of an 18 month window for a once in a lifetime opportunity to kick the can down the road for another 30 years, up from only six months 5 years ago.
    28 Feb 2012, 05:15 PM Reply Like
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