Housing to improve by year-end: Fed's Kroszner
SAO PAULO (Reuters) - Federal Reserve Governor Randall Kroszner said on Tuesday the U.S. housing market should begin to show improvement by the end of the year and continue to recover in 2009.
"The central tendency is for a number of these (housing) markets to stabilize and improve by the end of this year and into next year. Some markets will take longer than others," Kroszner said in answer to a question after speaking to a conference sponsored by Brazil's central bank.
Kroszner also said that while financial markets appeared to be improving, policy-makers had to be wary of the potential for further setbacks.
"Challenges in the financial markets will continue. We do see some improvement in many markets. We continue to be very watchful, very mindful of how the markets are evolving ...," he said.
(Reporting by Elzio Barreto; Editing by James Dalgleish)
© Thomson Reuters 2009 All rights reserved
The Wall's economic legacy
Twenty years after the fall of the Berlin Wall, much of the East German economy has cast off the shackles of its Communist past. But some of the changes have come at a price. Full Article | Full Coverage
Chavez, troops to prepare for war