Real estate risks a concern, says Fed's Powell
Atlanta
FEDERAL Reserve governor Jerome Powell said the US central bank needs to step up monitoring of financial excesses following an extended period of record-low interest rates, citing commercial real estate as one area of concern.
"With inflation under control, overheating has shown up in the form of financial excess," Mr Powell told the American Finance Association on Saturday in Chicago. "The current extended period of very low nominal rates calls for a high degree of vigilance against the buildup of risks to the stability of the financial system."
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Airbnb promises to combat sex work in rentals during Paris Olympics
Hong Kong property deals hit three-year high in April
More homes planned in Media Circle to support housing demand
Qatari Sheikh sells London mansion to fellow royal for £39 million
Toronto home sales fall for third month in April; prices rise
Far East Shopping Centre owners in private talks after close of S$928 million en bloc tender