Lecture by Richard Peach of the Federal Reserve Bank of New York.

BIO

Richard Peach is a Senior Vice President in the Macroeconomic and Monetary Studies Function of the Federal Reserve Bank of New York. He participates in the development of the Bank's forecast for the U.S. economy and oversees the Bank's projections of federal receipts and outlays. His long-term research interests have been primarily in housing and real estate finance topics. Prior to joining the Federal Reserve Bank of New York in June of 1992, he was Staff Vice President and Deputy Chief Economist of the Mortgage Bankers Association of America (MBA). He played a key role in the development of MBA's Weekly Survey of Mortgage Loan Applications, a closely watched indicator of conditions in housing and mortgage markets. Prior to joining the MBA in 1986, he was Staff Vice President for Forecasting and Policy Analysis of the National Association of Realtors (NAR).