- Analytics
- News and Tools
- Market News
- U.S. Treasury Secretary says concerned about housing prices but inflation to calm
U.S. Treasury Secretary says concerned about housing prices but inflation to calm
Reuters reports that U.S. Treasury Secretary Janet Yellen expressed concerns about housing affordability and said she expected several more months of high inflation readings, but it remained transitory, adding that the Fed was doing a good job under Chair Jerome Powell.
Yellen said the run-up in U.S. housing prices amid low interest rates and strong demand did not carry the same risks associated with the housing crash of 2008 as lending was being done to creditworthy borrowers.
"It's a very different phenomenon but I do worry about affordability and the pressures, higher housing prices will create for families that are first time homebuyers," Yellen said.
She added that Congress will be considering plans by the Biden administration to boost the supply of affordable housing.
Regarding elevated inflation data, she said she views it as transitory.
"I think we will have several more months of rapid inflation so I'm not saying that this is a one-month phenomenon. But I think over the medium term, we'll see inflation decline back to a normal level. But of course we have to keep a careful eye on it."
© 2000-2025. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
