The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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From: Smiling Bob	4/7/2010 3:08:24 PM
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Pricks coming from the Fed Fed's Dudley: Fed should prick some asset bubbles WASHINGTON (MarketWatch) -- The U.S. central bank should move to prick asset bubbles under certain conditions to avert a destructive price crash, said William Dudley, the president of the New York Federal Reserve Bank, on Wednesday. Dudley's stance represents a major shift in central bank thinking. Before the recent housing market bubble, Fed officials basically held the view that it made more sense to clean up after a market had collapsed. In a speech to the Economic Club of New York, Dudley included many caveats to Fed action. And he said that the bully pulpit and regulation would be better tools than hiking short-term interest rates. * *

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