ST. LOUIS (AP)- The president of the Federal Reserve Bank of St. Louis says recovery for the collapse of the housing bubble will take years.
James Bullard was among the speakers Tuesday at a forum in St. Louis hosted by the Bipartisan Policy Center Housing Commission and the Jack Kemp Foundation. Other participants included Democratic Congressmen William Lacy Clay and Russ Carnahan of St. Louis and former Republican Sen. Kit Bond.
Bullard says the financial crisis left households with too much mortgage debt. He and other panelists encouraged education programs to help low- and moderate-income people make better decisions on home purchases.
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