Fed's Fisher says rebounding U.S. housing not in bubble yet

Wed Jun 5, 2013 1:30pm EDT
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TORONTO, June 5 (Reuters) - The rebounding U.S. housing market has not yet entered bubble territory, but has corrected enormously, Richard Fisher, president of the Dallas Federal Reserve Bank said on Wednesday.

"I don't think it's a bubble yet but it has corrected enormously so my personal view would be to slow the rate of acceleration (of bond buying)," he said in an interview with Canada's BNN television.

The central bank official, who has advocated that the Federal Reserve scale back its quantitative easing program, also said financial markets have begun to discount this possibility.