IDEAS home Printed from https://ideas.repec.org/p/fip/fedpsp/96040.html
   My bibliography  Save this paper

Understanding Monetary Policy Through the Housing Channel

Author

Listed:
  • Patrick T. Harker

Abstract

Philadelphia Fed President and CEO Patrick Harker delivered remarks at the Samuel Zell and Robert Lurie Real Estate Center Members’ Meeting in Philadelphia. Harker spoke about the effects that monetary policy is having on the housing market and about the impact of shelter inflation on the overall economy. The toll of persistently high inflation “is falling most heavily on those least able to bear it,” Harker said, noting that “the Fed has been working to slow the economy modestly and bring it more in line with supply.” Harker reiterated the Fed’s commitment to its 2 percent inflation target and underscored the fact that the “economy isn’t the Federal Reserve, or interest rates, or numbers in a data report. The economy is people.”

Suggested Citation

  • Patrick T. Harker, 2023. "Understanding Monetary Policy Through the Housing Channel," Speech 96040, Federal Reserve Bank of Philadelphia.
    • Handle: RePEc:fip:fedpsp:96040
    as

    Download full text from publisher

    File URL: https://www.philadelphiafed.org/-/media/frbp/assets/institutional/speeches/harker/2023/04-20-23-speech-zell-lurie-real-estate-center.pdf
    Download Restriction: no
    ---><---

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fedpsp:96040. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Beth Paul (email available below). General contact details of provider: https://edirc.repec.org/data/frbphus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.