(Mike Blake/Reuters)El-Erian is not the only one to have warned Powell to take action sooner rather than later. One of the worries expressed at the Powell news conference referred to the well-known lag between the time a central bank begins to raise rates and the impact on prices. Even though he stated clearly that the central bank would have to sell off its stock of bonds eventually, he put no end point on stimulus. While Powell said he was not worried about the U.S. housing market despite surging prices, he warned that housing was often the main cause of a country's economic crack-up. (Don Pittis/CBC)One comment Powell made will be close to the hearts of Canadians worried about the state of this country's soaring property markets.

Source: CBC News April 29, 2021 07:52 UTC