Powell speech: Housing market needs to get back into balance
|FOMC Chairman Jerome Powell comments on the policy outlook after the Federal Reserve's decision to raise the policy rate by 75 basis points to the range of 3.75-4% following the November policy meeting.
Key quotes
"Housing significantly impacted by higher rates."
"Housing market needs to get back into balance."
"From a financial stability standpoint, we haven't seen poor credit underwriting on housing."
"We don't see financial stability issues from the housing sector."
"So it's a very different situation, with no apparent financial stability risks from housing."
"We had thought we would have better labor supply by now."
"Wages are a mixed picture."
"We keep looking for signs of gradual labor market signs, but it's not obvious to me."
"Wages are moving sideways right now not down."
"Vacancies have not come down as much as we thought."
"I don't see the case for real softening in labor market just yet."
"Wages have an effect on inflation, and vice versa."
"Wages are not the principal reason for inflation, not seeing a wage-price spiral."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.