(Reuters) - The weak housing sector continues to pose a strong headwind to the U.S. economic recovery, and the Federal Reserve could potentially do more to drive down mortgage rates to support the sector, a top Federal Reserve official said on Monday.
William Dudley, president of the New York Federal Reserve Bank, also warned about the risks of "spillover" effects from Europe's debt crisis.
Dudley's comments marked the second time in a week that a Fed policy maker highlighted the possibility that the U.S. central bank could do more to support the housing market. Read More
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