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Fed's Miran says housing a bigger driver of financial conditions over stocks

ReutersOct 7, 2025 8:38 PM

- Federal Reserve Governor Stephen Miran said on Tuesday that getting a read on financial conditions is tricky and other factors may matter more for the economy than just the movement of stock prices.

“The stock market, of course, matters,” in driving how accommodative or restrictive financial conditions are, Miran said at an appearance at an event held by Deutsche Bank. “But if I had to sort of say which one is the greater transmission channel, I would say the housing market is over the stock market” in terms of its impact on the economy.

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