Fed’s Yellen: Fed Failed To Understand The Complexity of The Situation Leading Up To Crisis

The Federal Reserve failed to fully understand the devastating impact that a collapse in home prices and the broader housing market would have on the U.S. economy, San Francisco Federal Reserve President Janet Yellen said Thursday, in a frank critique of the central bank’s actions leading up to the crisis. “We saw a number of different things and we failed to connect the dots,” Yellen said bluntly – iMarketNews