The Federal Reserve should get out of the business of owning mortgage backed securities and should have a top priority of selling them, Frederic Mishkin, former Fed governor and a Columbia University professor, said Wednesday. “Controlling more than $1trn in mortgages is a huge danger to the Federal Reserve,” Mishkin said. “The big, big deal going forward is the fact that the Federal Reserve is in a very, very difficult position.” “It’s very engaged in a private market. In fact, it’s the most politicized of all the financial markets in this country,” Mishkin added.
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With home prices reaching unprecedented heights and interest rates soaring, the discerning nature of today’s buyers requires all agents to employ every possible advantage. Simply put, cutting corners on staging is a risky move that risks prolonged market presence.