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Janet Yellen admits she doesn’t know why this sector of the economy is doing so poorly

By Joseph Lawler
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Janet Yellen admits she doesn’t know why this sector of the economy is doing so poorly

Federal Reserve Chairwoman Janet Yellen isn’t sure what’s gone wrong with the U.S. housing comeback.

“I have to say that I’m somewhat surprised,” Yellen said of the weakness of the housing market in a hearing in the House last week. “Frankly, it continues to be sluggish. And I can’t give you a precise reason why that’s occurred,” she admitted.

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Federal Reserve Housing Inflation Janet Yellen Joseph Lawler PennAve