The marketplace was zeroed in on Ben Bernanke and Jackson Hole, Wyoming, in hopes of a signal from the Federal Reserve’s chief that new stimulus measures were in the works to rekindle the stalled economy. But there was no mention of new action. Housing was the black eye of the Fed chairman’s speech. He said this recession was “unusual” because it was linked to a very deep slump in the housing market, and with an overhang of distressed properties and still-declining home prices, the housing sector is hindering economic growth.
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