Transcripts of the monetary policymaking body of the Federal Reserve from 2002–2008.

I do not, certainly not with respect to the rents. I would like to say also that I agree with the comments that financial innovations could very well be a justifiable reason for house prices to be higher than usual relative to other prices. I do think some things are different. But I don’t see anything to suggest that we have to be worried about rental inflation and, as a result, overall inflation.

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