{"id":942,"date":"2013-02-19T00:00:00","date_gmt":"2013-02-19T00:00:00","guid":{"rendered":"http:\/\/localhost:8033\/blog\/fed-says-stronger-housing-market-to-spur-growth\/"},"modified":"2022-06-16T12:52:59","modified_gmt":"2022-06-16T12:52:59","slug":"fed-says-stronger-housing-market-to-spur-growth","status":"publish","type":"post","link":"https:\/\/www.providencehomesinc.com\/blog\/fed-says-stronger-housing-market-to-spur-growth\/","title":{"rendered":"Fed Says Stronger Housing Market to Spur Growth"},"content":{"rendered":"<p><em>Original article can be found <a title=\"here.\" target=\"_blank\" rel=\"noopener\">here<\/a>. \u00a0Written by Steve Matthews \u2013 Feb 5, 2013 9:49 AM CT<\/em><\/p>\n<p>Federal Reserve Governor Elizabeth Duke said she\u2019s upbeat about the outlook for the\u00a0<strong>U.S. economy<\/strong>\u00a0in part because of a <strong>rebound in housing<\/strong>, even after growth stalled during the fourth quarter.<\/p>\n<p>\u201cI\u2019m actually on the optimistic side,\u201d Duke said today in response to audience questions during a speech in Duluth, Georgia. \u201cIf you look at the underlying thesis, the growth in consumer spending and some of the business growth, I think there is some momentum building, particularly in the area of\u00a0<strong>housing<\/strong>.\u201d<\/p>\n<p>Duke backed the Federal Open Market Committee decision last week to continue purchasing securities at the rate of $85 billion a month. The Fed said economic growth \u201cpaused in recent months, in large part because of weather-related disruptions and other transitory factors,\u201d while\u00a0<strong>\u201cthe housing sector has shown further improvement.\u201d<\/strong><\/p>\n<p>The FOMC announced its decision on Jan. 30, the same day the Commerce Department said gross domestic product shrank at an annual rate of 0.1 percent during the fourth quarter as a plunge in defense spending swamped gains for consumers and businesses. Fed policy makers expect growth of 2.3 percent to 3 percent this year, according to their forecasts in December.<\/p>\n<p>The\u00a0<strong>housing rebound<\/strong>\u00a0will help ensure the lapse in growth proves to be temporary, Duke, a former community banker, said today.<\/p>\n<p>\u201cWe are seeing steady\u00a0<strong>increases in house prices<\/strong>,\u201d she said. \u201cWe are seeing improvements in\u00a0<strong>new residential construction <\/strong>and also in household formation, which is the\u00a0<strong>demand for houses<\/strong>.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Original article can be found here. \u00a0Written by Steve Matthews \u2013 Feb 5, 2013 9:49 AM CT Federal Reserve Governor Elizabeth Duke said she\u2019s upbeat about the outlook for the\u00a0U.S. economy\u00a0in part because of a rebound in housing, even after&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[390,391,392,354,59],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.4 - 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