Fed's Bowman: Residential real estate appears to be rebounding

"The residential real estate market appears to be rebounding," Federal Reserve (Fed) Governor Michelle Bowman said on Wednesday and added the levelling out of home prices will have implications for the Fed's fight to lower inflation, per Reuters.

"The pandemic-related surge of homebuilding and renovation has moderated but it's important to understand the long-term impact on family formation, housing demand," Bowman further elaborated.

Market reaction

These comments don't seem to be having a noticeable impact on the US Dollar's valuation. As of writing, the US Dollar Index was up 0.33% on the day at 104.40.