United States: 2008 Article IV Consultation: Staff Report; Staff Supplement; and Public Information Notice on the Executive Board Discussion

July 30, 2008

Preview Citation

Format: Chicago

United States: 2008 Article IV Consultation: Staff Report; Staff Supplement; and Public Information Notice on the Executive Board Discussion, (USA: International Monetary Fund, 2008) accessed September 19, 2024

Summary

This 2008 Article IV Consultation highlights that problems in the housing and financial markets over the past year have combined to slow the United States’ economy substantially. As the residential investment downturn accelerated and national indices of housing prices started falling, mortgage defaults rose sharply, and bank losses mounted. Policymakers have responded aggressively to these developments. IMF staff analysis suggests that the dollar is closer to its medium-term equilibrium level, although still on the strong side.

Subject: Financial institutions, International organization, Monetary policy, National accounts, Prices

Keywords: Africa, Equity capital, Global, Government-sponsored enterprises, Headline inflation, Housing, Housing GSE, Housing prices, Inflation, Lending standard, Loans, Mortgage prepayment risk, Mortgages, Stimulus package

Publication Details

Pages:

65
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2008/255
Stock No:

1USAEA2008001
ISBN:

9781451839715
ISSN:

1934-7685

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