JEROME POWELL

EXCERPT: “Federal Reserve Chairman Jerome Powell echoed what most in the homebuilding industry have been complaining about all year. While the nation sinks into a severe housing shortage, homebuilders are struggling against high costs for labor and materials. In response to questioning from Sen. Tina Smith, D-Minn., Powell said, ‘What we hear from the homebuilders is that it’s a series of factors that are holding them back and challenging affordability.’ He pointed to the fact that thousands of skilled workers left the construction industry following the housing crash that began in 2008 and never returned.” FULL STORY: https://cnb.cx/2O4WC9B