RICHMOND, Va. — Richmond Federal Reserve Bank president Jeffrey Lacker Wednesday said the United States needs to wean itself off the need for housing subsidies, and that 10 years from now the country should no longer need Fannie Mae and Freddie Mac or central bank support for housing.

With the focus on financial reform, Lacker said one important problem that needs to be faced is the government’s policy towards housing, especially “weaning ourselves off subsidies for housing.”

— Market News International

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