Poole, William

Earlier, Poole said in response to an audience question that while the housing market's slump may deepen, central bankers shouldn't adjust interest rates unless the slowdown endangers the broader economy.
     ``We just don't know how much further the housing downturn has to go,'' Poole said. ``As long as the housing problem remains confined to housing, there is really nothing the Federal Reserve can or should do.''
     Fed policy makers are now giving the housing market what Poole said is ``special attention.'' Sales of new single-family home sales dropped 23 percent in the third quarter, and Poole said he's concerned about purchase cancellations by prospective home buyers. The U.S. economy, dragged down by housing, grew at a 1.6 percent annual pace last quarter. 

     The housing market is seeing ``significant price softness'' and may be weaker than it appears, and the level of concessions by home builders to buyers is also a concern, Poole told the audience.

As reported by Bloomberg News