Treasury Secretary Janet Yellen on Monday unveiled a new slate of financing initiatives to support housing development, including a $100 million fund specifically for affordable housing.
The past several inflation reports have shown prices slightly cooling off, but shelter costs have remained persistently hot.
As part of its new actions, Treasury will provide $100 million over the next three years to finance affordable housing projects.
Housing costs in particular, which make up some of the largest portions of consumer spending, have remained stubbornly high even as other sectors have cooled down.
Biden has tried to punt the responsibility of high housing costs on corporate landlords, accusing them of "rent gouging," keeping consumer rents artificially high even as their own costs have come down.
Persons:
Janet Yellen, Joe Biden, Donald Trump, hunkers, Camp David, Yellen, Biden, Adrianne, Pete Buttigieg
Organizations:
Camp, Housing, Urban, Adrianne Todman, Biden, White, Apartment Association, NAA
Locations:
Fairfax , Virginia, Minneapolis, Minnesota