Fed Board's Mishkin writes on housing crisis
In a timely paper, Frederic Mishkin, one of five current members of the Federal Reserve's Board of Governors, has emphasised the importance of the housing industry on the US economy.
Mishkin said: "The housing market is of central concern to monetary policy makers." Mishkin added that housing industry can impact credit markets, but said that the markets were in a good position to weather the current bout of turmoil in the mortgage markets: "The overall financial system appears to be in good
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