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The Fed Won’t Rescue The Housing Market | Danielle DiMartino Booth

Forward Guidance

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Do You Think the Fed Created the Subprime Crisis?

Daniel Treisman: How much of this slowdown in housing would have happened by itself? Or versus it is in a sense manmade by J. Powell, because rates have gone from zero to 3%. Treisman: The Fed didn't have to buy up a third of the mortgage backed securities market and keep interest rates at the zero bound. He says they're just, it's like Frankenstein on steroids. Where do you think this shakes out? We are not staring down the barrel of 10 million plus foreclosures coming up; there will be a foreclosure rate.

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