Real Estate

Fed’s Kaplan cites real estate excesses as one reason to start tapering purchases


Dallas Federal Reserve President Robert Kaplan cited potential excesses in the housing market and other inflation signs as an indication that the central bank should start slowly pulling back on its asset purchase program.

With the Fed still buying at least $120 billion in bonds each month, a total that includes $40 billion in mortgage-backed securities, several officials have said it’s time to at least start discussing easing off the historically aggressive injections into the fixed income market.

In an interview Thursday afternoon with CNBC, Kaplan reiterated his call for a gradual change in policy.

“At this stage as opposed to a year ago, these mortgage purchases for example might be…


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