Sunday, May 2, 2010

Should the Fed have been able to spot the housing bubble?

Calculated Risk shows they talked about it.  Steve Oliner, Director of Research, was a classmate of mine:
I don’t want to leave the impression that we think there’s a huge housing bubble. We believe a lot of the rise in house prices is rooted in fundamentals. But even after you account for the fundamentals, there’s a part of the increase that is hard to explain.

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