Fed Chairman to Address Open Board Session at IBS
NAHB members who attend the 2012 International Builders’ Show will have an outstanding opportunity to hear Federal Reserve Chairman Ben Bernanke deliver remarks during a special session of our Board of Directors meeting on February 10.
Testifying before the Joint Economic Committee in Congress this week, Federal Reserve Chairman Ben Bernanke specifically acknowledged housing’s role in economic recovery and job growth and the challenges facing builders in today’s market. “The housing sector has been a significant driver of recovery from most recessions in the United States since World War II,” he said. ”This time, however, a number of factors — including the overhang of distressed and foreclosed properties, tight credit conditions for builders and potential home buyers, and the large number of ‘underwater’ mortgages — have left the rate of new home construction at only about one-third of its average level in recent decades.”
Clearly, Chairman Bernanke understands the contributions that builders can make to the economy when given the chance, and throughout his tenure he has been willing to meet with our leadership on a regular basis to receive updates from us on the state of the housing market and discuss our concerns. Building on this solid relationship, we are pleased to announce that the chairman recently accepted an invitation to speak at our Board of Directors meeting to be held during the International Builders’ Show in Orlando this coming February. Registered IBS attendees will be welcomed as part of the audience on a first-come, first served basis when the chairman speaks on Feb.10.
This is an outstanding opportunity to hear from a man who is at the center of our nation’s efforts to mount an economic recovery — and a true honor for NAHB members, as such an appearance is relatively rare for the chairman. Further details on the time and location of Mr. Bernanke’s address will be available closer to the event, and we will be sure to pass on that information as soon as possible. In the meantime, if you haven’t signed up to attend the IBS this February, now’s the time to do so atwww.BuildersShow.com!