State and municipal banks could and should operate by primarily lending money into existence that is fixed to the location of their jurisdiction. The most obvious means of doing so is via #mortgage and construction lending.

Since these banks would be publicly owned, they would effectively be #nonprofit organizations, able to charge much lower interest rates than private and commercial banks.

In #Vermont, our most pressing economic issues are a lack of #housing and a lack of #money to build.

When the #US & #Israel attacked #Iran, setting off an #energy crisis & raising new #inflation concerns in #FinancialMarkets. The result has been a jump in the yield on government bonds, & falling expectations for #InterestRate cuts later this year. The yield on the 10-year #Treasury note, which acts as a broad reference interest rate that underpins the US #mortgage market, climbed to 4.25% Thursday, up from below 4% before the war began.

#economy #affordability #CostOfLiving #Trump #recession