DON’T BLAME JEROME POWELL — OR THE FED — IF YOU CAN’T AFFORD TO BUY A HOUSE RIGHT NOW
https://s.yimg.com/ny/api/res/1.2/l0Fx36_XfDCM5Mcln00VTw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyMDA7aD02MDA-/https://media.zenfs.com/en/marketwatch_hosted_869/197667b918a4787ef63134141f09cddf
✍️ President Trump has criticized Federal Reserve Chair Jerome Powell for not lowering interest rates, claiming it's blocking Americans from buying houses. However, experts say the main obstacle is the lack of housing supply and high home prices.
👉 The housing affordability crisis is not just about interest rates, but also about the lack of housing supply and high home prices. 👉 Mortgage rates don't directly follow the direction of the Fed's benchmark short-term interest rate. 👉 The Fed's interest-rate policy has an impact on home builders' borrowing costs and the housing market. 👉 The housing market has deeper, structural problems that need to be addressed, such as the mismatch between supply and demand.
-- #DonaldTrump #JeromePowell #MichaelFratantoni #BillPulte #DavidDworkin #AmyNixon #KushDesai #JamesKnightley #MarkZandi #JimBullard #politics
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