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Echoing comments he made on May 22, Fed Governor Randall Kroszner said the U.S. housing sector will recover gradually as an excess of home inventory is reduced. Speaking on 'Financial Market Developments and Credit Conditions' in Boston, Kroszner did not address the economic outlook or interest rates...
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Minneapolis Fed President Gary Stern said on Wednesday that inflation expectations will be determined by how the Federal Reserve raises rates. Speaking to the Wisconsin Chamber of Commerce, Stern said the Fed is "highly sensitive" to the threat of higher prices, but that inflation expectations are reasonably...
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Speaking in an interview with Bloomberg, Boston Fed President Eric Rosengren expressed surprise that the U.S. housing market had not begun to show signs of recovery as of yet. "People have been expecting a recovery in housing much sooner than it has offered and that's continued to surprise on the downside...
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U.S. economic growth is likely to be sluggish in 2008, dragged down by an ailing housing sector that is not likely to recover in the near future, said head of the San Francisco Fed Janet Yellen (non-voter) on Thursday evening. However, the Fed will continue to act in a "firm and timely manner" to address...