Board of Governors of the Federal Reserve System

and, in particular, here in the Houston Branch. We in, what may seem like...best with this new facility. Return to top 2005 Speeches Home | News and

Compared with the FOMC’s current tools for draining excess reserves, FDN...program—the Federal Reserve does not have complete control over the size

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And, of course, even beyond the young, there are millions of Americans...and, in many cases, locks them into a downward cycle of deteriorating

and, in some cases, the usability of real estate in many areas will be...prices, including to real estate prices in specific geographic locations

best wishes to the seniors later, but first I want to congratulate the...and, anyway, coveting your neighbor's ox or donkey is not the problem

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for example, Atkeson and Ohanian (2001)), relative price inflation has...key driver of pure inflation during the Great Recession and the subsequent

prices. These results tentatively suggest that current market pricing

the typical household within each group) and at the mean (the average ...for homeowners): Percent of assets in housing 32 37 39 35 Mean net housing