CSPAN Federal Reserve Board Of Governors Member Jay Powell Delivers Remarks On... July 9, 2017
A robust, well coordinated housing system is vital for achieving these goals and for our economy. We need mortgage credit in good times and bad. Reforms have addressed some of the problems of the precrisis system, the job is far from done. It may feel comfortable but it is unsustainable. The federal governments role in Housing Finance is even greater than it was before the crisis. It is a highly concentrated market. It leaves us with taxpayer liability and Systemic Risk. It is important to learn from the failure of the old system and apply lessons from postcrisis banking reform. We need to mov...