Fed’s Dudley Wants You to Refi (Safely, of Course)


Posted To: MND NewsWire

Debt finances additional consumption. That could be the summary of a speech given on Tuesday to the National Retail Federation’s annual convention by William C. Dudley, President and CEO of the Federal Reserve Bank of New York. Dudley’s remarks focused on the connections between housing and retail sales and why changes in the housing and mortgage markets “Have had important consequences for the dynamics of consumption over the last decade.” These connections, he said, are among the reasons the recovery and economic expansion have been weaker than desired. The good news however, is that, while the current expansion is quite old in chronological terms, it is still quite young in terms of households’ financial health. Household incomes tend to increase as individuals age, but ideally households…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Show Buttons
Hide Buttons