Wednesday, July 22, 2009
Fed Chair Ben Bernanke testify before the Home Financial Services Committee on Tuesday, saying that price increases is likely to decline - not rise, as numerous have feared. As a result, the Fed intends to keep lend rates near zero.
Bernanke also says inflation should be "lesser in 2009 than all through 2008 as a whole, " in part "as of the sizable quantity of slack in resource utilization."
Bernanke also discuss Real Estate foreclosures, which he said perhaps haven't peaked as of the rising unemployment rate. He downplayed the unwinding of the profitable real estate investments market.
"It is a segment we are paying a lot of concentration to," Bernanke said, noting that profitable real estate mortgages are a small section of the market. "I don't think we require having a huge program to stimulate improvement."
Bernanke also says inflation should be "lesser in 2009 than all through 2008 as a whole, " in part "as of the sizable quantity of slack in resource utilization."
Bernanke also discuss Real Estate foreclosures, which he said perhaps haven't peaked as of the rising unemployment rate. He downplayed the unwinding of the profitable real estate investments market.
"It is a segment we are paying a lot of concentration to," Bernanke said, noting that profitable real estate mortgages are a small section of the market. "I don't think we require having a huge program to stimulate improvement."



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