Speaking in an interview with Bloomberg, Boston Fed President Eric Rosengren expressed surprise that the U.S. housing market had not begun to show signs of recovery as of yet.
“People have been expecting a recovery in housing much sooner than it has offered and that’s continued to surprise on the downside,” he said.
The fact that the Fed’s aggressive rate cut has failed to cause a rebound in the ailing sector suggests the U.S. economy is weaker than many would have liked, he added …
Source: Boston Fed’s Rosengren Surprised Housing Market Hasn’t Bounced – Bloomberg News, by way of Canadian Economic Press
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