Fed's Fischer says he's worried memories are fading about housing's pivotal role in financial crisis

Federal Reserve Vice Chairman Stanley Fischer said Tuesday that he was worried memories might be fading about the pivotal role that housing played in the financial crisis. "House prices are now high and rising in several countries, perhaps as a result of extended period of low interest rates," Fischer said in a speech to a DNB-Riksbank conference in Amsterdam, Fischer noted that U.S. government's role in housing is increasing with Fannie Mae , Freddie Mac and the Federal House Administration "now the dominant providers of mortgage financing." The Fed's #2 said "there is more to be done" to......(read more)

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