Why Robert J. Shiller Is Wrong about the Fed’s Role in Housing Bubble 2.0

The Eccles Building in Washington, D.C., which serves as the Federal Reserve System's headquarters. (AgnosticPreachersKid/Wikimedia Commons)

In the New York Times last week, Robert J. Shiller, one of the creators of the Case-Shiller National Home Price Index, acknowledged that the current “housing boom” is not sustainable, but fallaciously deflects responsibility for this unsustainability away from the Federal Reserve.

Shiller writes:

Low interest rates — imposed by the Federal Reserve and other central banks in reaction to the financial crisis — are the most popular culprit in the current boom. There is some apparent merit to thi...

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Published on December 11, 2018 07:35
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