Federal Reserve officials worried in 2005 about the risks a housing bubble could pose to the U.S. economy but ended the year hopeful a steady round of interest-rate increases would keep the problem in check, transcripts released Friday showed.
The documents suggest the Fed, in hindsight, may have been too complacent about an overheated housing market that helped spark the worst U.S. financial crisis and deepest recession since the 1930s. Get the full story »
