The Fed's transcripts from 2013 are out today. We've already highlighted a few of our favourites, but since there are just so many to choose from, here is one more.This one comes from former Fed Chair Ben Bernanke in July (emphasis ours):One of the constraints we have seen on house purchases up to now is supply constraints, both in terms of construction and in terms of existing inventories. The result of that has been relatively strong pressure on prices. Presumably some of those bottlenecks will ease. That means that prices won’t go up as fast, but that in turn will help affordability. We ought to see more real activity in the housing sector. A lot of people have noted the very low levels of household formation—the canonical 30-year-old living at home. We actually have a 30-year-old
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The Fed's transcripts from 2013 are out today. We've already highlighted a few of our