Federal Reserve could have done more to boost the economy
Falling mortgage rates fueled by the Federal Reserve Board are having a limited impact on the economy, Federal Reserve Bank of New York President William Dudley said today in a speech, CNNMoney reported.
Though the Federal Reserve’s stimulus policy is working, even more aggressive policy could have been more effective, Dudley said.
The impact on the housing market could have been even greater if not for tight lending standards and higher fees from Fannie Mae and Freddie Mac, which have discouraged banks from originating loans, he said. Read more.
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