What You May Have Missed
By Robert J. Samuelson, Washington Post
Published: Tuesday, Aug. 20 2013 12:00 a.m. MDT
One of today's economic puzzles is why the Federal Reserve's low interest rates haven't spurred a stronger recovery. A partial answer lies in the beleaguered housing market, which is a crucial channel through which low rates operate. Although housing has rebounded, the revival has been muted by banks' tougher lending practices. Low interest rates don't matter if lenders won't lend or lend only to ultra-safe borrowers.
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