Plosser Says Rate Hike is Inevitable Even if Housing Prices Continue to Fall Existing Home Sales Drop to 10-year Low
Jul 24

“The U.S. and global financial systems are going through a very
challenging period of adjustment. The critical imperative today is to
help facilitate that adjustment and to cushion its impact on the broader
economy. The forces that made the system vulnerable to this crisis took a
long time to build up, and the system will need some
time
to work through their aftermath,” said Geithner.

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