Fed's George: Longer-term risks involve reshuffling of population away from city centers

Kansas City Federal Reserve Bank President Esther George said on Tuesday that changes in housing and office patterns from the pandemic could lead to stress in real estate markets, as reported by Reuters.

Additional takeaways

"Federal programs have so far kept strains on real estate finance contained but that could change as pandemic aid expires."

"Single-family housing is booming and looks poised to remain strong for some time."

"Longer-term risks involve the rise of telecommuting, reshuffling of the population away from city centers."

Market reaction

The US Dollar Index showed no immediate reaction to these remarks and was last seen gaining 0.12% on the day at 90.58.