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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: patron_anejo_por_favor who wrote (48230)	3/16/2006 4:26:39 PM
From: mishedlo	Read Replies (1) of 116555

Fed won't act to preserve high home prices: Kohn 'Greenspan put' theory doesn't stand scrutiny By Greg Robb, MarketWatch Last Update: 10:36 AM ET Mar 16, 2006 WASHINGTON (MarketWatch) -- The Federal Reserve has no intention of preserving all of the recent gains in home price values, said Federal Reserve board governor Donald Kohn on Thursday. "If real estate prices begin to erode, homeowners should not expect to see all the gains of recent years preserved by monetary policy actions,' Kohn said in a speech prepared for delivery to a European Central Bank forum in Frankfurt, Germany. marketwatch.com

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