Transcripts of the monetary policymaking body of the Federal Reserve from 2002–2008.
be between the period of the write-downs of the subprime loans and the period in which the credit loss
left panel, the cost of credit protection for subprime mortgage pools packaged over the past 1½ years
reflect the continuing fallout from the pullback in subprime lending. But we also think that housing demand
remains difficult to judge, in part because of subprime issues. It is also unclear whether builders will
hard to say. The price-discovery process around subprime mortgages is less advanced, but even there we
evidence of pickup in demand. Despite the problems in subprime lending markets, however, I think the financial
spending and activity of difficulties involving subprime mortgages, structured-investment vehicles, leveraged
pointed to, a number of financial institutions, subprime mortgages, jumbo mortgages, asset-backed commercial
significantly—all in light of the press given to the subprime debacle, financial turmoil, and just a general
panel. In light of the tighter conditions in the subprime loan market and the recent backup in rates, we
An open source tool for making transcripts really easy to read, search and share on the modern web
Your donations keep this site and others like it running
A Poplus component
mySociety Limited is a project of UK Citizens Online Democracy, a registered charity in England and Wales. For full details visit mysociety.org.