Chief economist for Realtor.com Danielle Hale stated continued emphasis on transparency and communication by the incoming Federal Reserve chair will benefit homebuyers and sellers.
“Both are vital for a smooth transition to a more normal credit environment, financial market stability and an orderly increase in mortgage interest rates,” she concluded in a statement to HousingWire. Under Janet Yellen's leadership, the Fed raised the federal funds rate in December 2015 and announced it would start quantitative un-easing. Hale argues both initiatives need to be finished by the new Fed chair.
According to an article in Reuters by Steve Holland, “By picking [Jerome] Powell, a soft-spoken centrist and Fed governor since 2012, Trump would get the combination of a leadership change and the continuity offered by somebody who has been a part of the Yellen-run Fed that has kept the economy and markets steady in recent years.”
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