(Reuters) - "The key reason for the change in our outlook is the
unanticipated and sudden turmoil we encountered in the subprime
mortgage sector early this year," he said during a
teleconference of his mid-year economic forecast.
"We got at least a couple more quarters of contraction in
front of us, but there are some ultimate supports for housing
demand lying out there, and housing production should do
somewhat better in 2008 than in 2007," he said.
Read more at Reuters.com Bonds News
unanticipated and sudden turmoil we encountered in the subprime
mortgage sector early this year," he said during a
teleconference of his mid-year economic forecast.
"We got at least a couple more quarters of contraction in
front of us, but there are some ultimate supports for housing
demand lying out there, and housing production should do
somewhat better in 2008 than in 2007," he said.
Read more at Reuters.com Bonds News
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