Corker to Fed Governor: Fed Activism & Flawed Dodd-Frank Mortgage Rules Are Counterproductive

WASHINGTON, DC – September 20, 2012 – (RealEstateRama) — U.S. Senator Bob Corker, R-Tenn., a member of the Senate Banking Committee, today sent a letter to Federal Reserve Governor Daniel Tarullo, head of Bank Supervision and member of the Federal Open Market Committee who voted last week for the Fed’s latest effort to stimulate the economy (known as quantitative easing or “QE3”), arguing activism at the Federal Reserve and flawed mortgage rules being written in accordance with the Dodd-Frank Act are counterproductive. Corker said a more thoughtful approach would be to fix the regulations instead of ballooning the Fed’s balance sheet and risking future inflation