The former head of the Federal Reserve has expressed satisfaction with the performance of her successor.
According to a Philadelphia Inquirer report, Janet Yellen praised Fed Chairman Jerome Powell during a presentation at the University of Pennsylvania’s Wharton School, her first public appearance since leaving the central bank. Yellen said that she was “very impressed” with the intelligence and preparation that Powell has shown, noting that he has diligently worked to get up to speed on economic scholarship even though he does not a Ph.D. in economics. Yellen added that the doctorate degree wasn’t necessary “to understand economics and apply it.”
From her own experience, Yellen said that chairing the Fed “was a job I loved,” even though it came with “a high degree of stress” in explaining Fed policies to Congress and the public. Nonetheless, she claimed that she loved the “freedom” of her post-Fed work as a Distinguished Fellow at the Brookings Institution, a Washington think tank.
The New York Federal Reserve Bank says Americans now hold more than $11 trillion in mortgage debt
As housing prices rose during the pandemic, U.S. homeowners saw their mortgage debt increase along with them, credit agency Experian reports.
Experian looked at how mortgage debt varies by state and how it's grown over time, specifically from 2017 to 2021. The analysis incl...
Alternative real estate financing company cut about 120 jobs.
Homeward, an Austin, Texas-based company offering alternative financing for real estate, laid off about 20% of its staff this week.
In a 1,330-word message titled "A Note From Our CEO" posted to the company’s website blog on Wednesday, Homeward Founder & CEO Tim Heyl s...