“The Fed’s easy credit policies are creating a growing housing affordability crisis for lower income families, who are increasingly crowded out of the home buying market and putting homeownership out of reach for millions. With accommodative monetary conditions likely remaining in place for the foreseeable future, the Fed’s policies are having a disparate impact which will lead to a slowing of gains in racial integration, a widening of wealth inequality, a further increase in socio-economic stratification, and a reduction in home ownership rates. Quite an accomplishment for an agency with a stated goal of ‘stable prices for the American people.'”
