Fed's Rosengren Says Housing Still Adding “Significant Uncertainty” to Economy
The sharpest drop in housing prices in 50 years
poses a “significant” risk to the United States economy, but the Fed’s rate cuts
should be felt in the second half of the year, according to one Fed
official on Friday.
Boston Fed President Eric Rosengren has said the United States
housing market is a small part of GDP but the slump, the effects of which
are widespread, may last longer than anticipated.
Rosengren has said it is important for servicers to help economic growth
by making loan modifications where appropriate…
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