Fed Chair Sounds Cautionary Note On Housing

Federal Reserve Chairwoman Janet L. Yellen testified on Wednesday to lawmakers that a slowdown in housing could pose a risk to the economic recovery.

“Readings on housing activity, a sector that has been recovering since 2011, have remained disappointing so far this year and will bear watching,” Yellen said at a hearing of the Joint Economic Committee. “Another risk — domestic in origin — is that the recent flattening out in housing activity could prove more protracted than currently expected, rather than resuming its earlier pace of recovery.”  Read the article click here