US Fed Reserve Chair Jerome Powell says homebuyers need a ‘reset’

Jerome Powell, the chairman of the U.S. Federal Reserve, the organization that perhaps plays the largest role in controlling U.S. interest rates, declared that homebuyers need a “reset” when it comes to supply-and-demand balance in a press conference he held in June. Actions this year by the Fed, which have led to rapidly increasing rates in an attempt to, in part, curb inflation, have revealed this perspective, but hearing it explicitly from the chairman in a public forum gives more weight to the direction and effort by the organization and how it may impact real estate.