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20 hours agoFed Chair Powell Dismisses Direct Action on Mortgage Rates
Federal Reserve Chair Jerome Powell recently addressed the National Association for Business Economics conference, indicating that the central bank would not intervene in secondary mortgage markets to ease mortgage rates, contrary to some suggestions for boosting homebuyer affordability. The discussion revolved around the Fed's efforts to reduce its significant holdings of securities, notably mortgage-backed securities (MBS), accumulated during the COVID-19 pandemic through quantitative easing measures.
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