Published: June 21, 2023 at 11:09 AM ET
Fed Chairman Jerome Powell said Wednesday that the conditions are in place for housing sector inflation to fall. “We believe housing inflation will decline significantly in the second half of this year and into next year,” Powell said in testimony before the House Financial Services Committee. Consumer inflation has eased since last summer, mainly due to lower energy and core goods prices. By contrast, rent and other housing inflation are trending upward.
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Fed Chairman Jerome Powell said Wednesday that the conditions are in place for housing sector inflation to fall. “We believe housing inflation will decline significantly in the second half of this year and into next year,” Powell said in testimony before the House Financial Services Committee. Consumer inflation has eased since last summer, mainly due to lower energy and core goods prices. By contrast, rent and other housing inflation are trending upward.
