“The improving housing market is “far from being out of the woods,” Federal Reserve Chairman Ben Bernanke said, arguing that overly tight lending standards are part of the problem.
The Fed, which has focused on mortgage bonds in its latest round of asset purchases, will continue to do what it can to support the housing market, Bernanke said in a speech that avoided policy specifics.
A bubble in the U.S. housing market was at the core of the 2007-2009 financial crisis and brutal recession that continues to hamper the world economy. Data in recent months, however, have shown the sector is on the mend.”
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