He also suggested that the New York Fed
banking supervisory team should share the oversight of some of the biggest banks that are based in New York with the staff of other regional Fed
All of the above cases involved loans approved for white applicants, a fact that may have biased the Boston Fed's findings.
The Boston Fed's dataset is a subset of the Home Mortgage Disclosure Act data for 1990; in the HMDA data, there are 15 cases in which applications are recorded as denied but then sold on the secondary market.
The Fed must continue to raise interest rates and unwind its balance sheet but be more aggressive than indicated in its current strategy.
Neither the Fed's sustained monetary ease nor high deficit spending addresses structural challenges facing labor markets, business caution in expansion and investing, weak productivity, and other critical issues.
Fedspeak is backloaded next week: Philly Fed
hawk Harker (non-voter) discusses the economic outlook (Wednesday), while Minneapolis Fed
dove Kashkari (non-voter) takes part in a Bloomberg Q&A session.