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Fed: Slowing Housing Not A Problem--economy In Good Shape

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WASHINGTON (AFX) -- The economic outlook is in fine shape, belying all the hand wringing about slow growth, or a spurt of inflation from higher energy prices, said Jeffrey Lacker, the president of the Richmond Federal Reserve Bank on Tuesday.
"Growth is proceeding on a solid pace this year, and inflation is low and stable," Lacker said in a speech to the business group in Parkersburg, West Virginia.
"It has now become uncontroversial to say that the outlook for overall economic activity is quite healthy," Lacker said.
Although there will be some moderation in the housing sector this year, this "will not pose a problem for overall activity this year or next," Lacker said.
Lacker said some of the slowdown in housing would be offset by business capital spending.

No denial from the Fed that house prices are headed down. Seems that dollar sell off was overdone again today.

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Seems that dollar sell off was overdone again today.

Especially against the Pound.

Mind you I have noted up until recently that there was a strong correlation between stirling movement against the dollar and the movement of the prices of oil. There have been signs that this may be weakening this week.

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  • 338 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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