"War Games" Show Fed Worried About Commercial Real Estate, Interest Rates; Fed Weighs Consequences of "Macroprudential Tools"
MishTalk
DECEMBER 13, 2015
Commercial real-estate prices have continued to rise and are projected to far exceed levels they reached before the 2007-09 financial crisis, adjusted for inflation. Perhaps the most challenging part of the discussion related to monetary policy. But Neither Greenspan nor Bernanke saw the real estate bubble until it was too late.
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