Fed Governor Bowman: Likely to see higher inflation from housing for a while

Fed Governor Bowman speaking

• Likely to see higher inflation from housing for a while.
• Fundamentals driving also prices, but house prices do decline from time to time
• Continued outsized house price increases could also be problematic.
• If transitions out of forbearance handled smoothly, cautiously optimistic no material effect on larger economy.
• Aware is of the risks of transition from forbearance, monitoring closely.
• Appropriate that non-bank mortgage companies get stronger oversight.
• Concerned about differences in oversight between banks and nine banks in mortgage market.