Fed Chair Powell Acknowledges MBS Purchases May Have Continued Too Long During Housing Boom
Federal Reserve Chair Jerome Powell has offered his clearest reflection yet on the Fed’s pandemic-era mortgage bond buying program. Speaking at a business economics conference, Powell suggested the central bank may have kept purchasing mortgage-backed securities for too long during the housing market surge.
Fed Chair Reflects on Pandemic-Era Mortgage Security Purchases
Federal Reserve Chair Jerome Powell has acknowledged that the central bank may have continued purchasing mortgage-backed securities for too long during the pandemic housing boom, according to his remarks Tuesday at the National Association for Business Economics meeting in Philadelphia. Powell offered what analysts suggest is his clearest reflection to date on the Fed’s pandemic-era mortgage bond buying program during his speech.