Pianalto confident housing market on road to recovery
Sandra Pianalto, president of the Cleveland Fed, told the Ohio Housing Conference yesterday that patience would be needed, but she is confident that the expanding economy and shrinking unemployment rate will translate into a more vibrant housing market.
Addressing the actions of the Federal Open Market Committee (FOMC), Pianalto – due to step down from her post at the start of next year – said she remains "convinced that we need to be cautious in our expansion of asset purchases", adding that
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