It's going to be a very targeted tax cut program that I think is going to make a meaningful difference for American families,
More Quotes from Franklin Raines:
Based on the presentation that we heard today, there are more issues then the last time we sat down, ... It fails to target tax relief on middle incomes as the president's approach would do.Franklin Raines
We are shrinking the size of the federal government as a percent of our economy from over 21 percent of the economy to 19 percent of the economy. At the same time, we're growing the private economy.
Franklin Raines
People are buying new homes, existing homes at record levels. And that just shows the underlying strength of the economy and the optimism of families that this is still a good time to buy a home even though interest rates on mortgages have risen substantially,
Franklin Raines
And so Fannie Mae produces very strong results for investors in - when interest rates are high and when interest rates are low, in recession and during booms.
Franklin Raines
I think if you go beyond a year - if this continues into the system in the out years, I think there is a risk and that - that we could have a negative reaction in the bond market and that will offset the good that was attempted to be done.
Franklin Raines
That is - the reason for that is that home prices are only going to go up. Now, they've never gone down nationwide in our - since we've been keeping track of this.
Franklin Raines
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