On behalf of the Board of Governors of the Federal Reserve System, I’d like to welcome everyone to the last of our series of public hearings held to discuss changes to the Home Mortgage Disclosure Act (HMDA).
On the other hand, we also should keep in mind that, given that market participants and economic entities already factor these risks in to a certain extent, the economy could deviate upward from the baseline scenario through a rise in sentiment depending on how they play out.