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Franklin Raines

Franklin Raines Books

Former Director, United States Office of Management and Budget

Franklin Raines served as the Director of the United States Office of Management and Budget, bringing extensive experience in both the financial and governmental sectors. He has held senior positions in major financial institutions, including the United States Department of the Treasury and the World Bank.

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“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.”

Strong Interest Results Produce Lows Rate Investors Very Strong Recessions Interest Rate Mae

Author:Franklin Raines

“And so the danger for the housing industry is if we see interest rates rise.”

Ifs Interest Economy Danger Industry Rate Housing Interest Rate

Author:Franklin Raines

“And so we have to be careful with looking at additional stimulus that we don't provoke an increase in the bond rate and then offset a lot of the stimulus we've already got.”

Increase Rate Careful Be Careful Provoking Stimulus

Author: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.”

Ifs Thinking Years Done Economy Risk Negative Reactions Negative Reactions Bond Market

Author:Franklin Raines

“Right now the long-term investors are telling us that they're not as concerned about inflation and so we're seeing these rates now move into the marketplace and out to the street - rates that individuals can get.”

Long Moving Individual Term Economy Seeing Streets Right Now Concerned Rate Long Term Investors Inflation Marketplace

Author:Franklin Raines

“So from the housing standpoint, steady as you go, I think, would be the best medicine.”

Thinking Would Be Medicine Being The Best Steady Housing Standpoint

Author:Franklin Raines

“The automatic stabilizer is unemployment insurance, food stamps, additional coverage of Medicaid.”

Economy Unemployment Stamps Coverage Food Stamps Medicaid

Author:Franklin Raines

“They flooded liquidity in the marketplace but the mortgage rate is based much more on expectations of inflation. So if the average investor believes that there is inflation coming, they'll move that rate up.”

Ifs Believe Moving Expectations Rate Average Investors Inflation Marketplace Mortgage Liquidity Mortgage Rate

Author:Franklin Raines

“Well, I think as long as people are talking about stimulus, I think the Fed will be thinking about cutting rates because monetary policy is the better way to go because you can turn it on and turn it off.”

People Thinking Way Wells Long Turns Talking Economy Cutting Policy Rate Feds Stimulus Better Ways Monetary Monetary Policy

Author:Franklin Raines

“Well, I think the best form would be to put money directly in the pockets of consumers.”

Thinking Wells Would Be Form Economy Consumers Pockets

Author:Franklin Raines

“Well, now, and there's - for every dollar the federal government spends, there's real people on the other side, and so when we talk about reductions that are going to affect providers, that's going to affect hospitals and doctors and others.”

People Wells Real Government Sides Doctors Dollars Hospitals Federal Government Reduction Providers

Author:Franklin Raines

“Right now we think that rates will stay low, that you'll be able to get a mortgage below seven percent and that's kicked off a refinance boom that's going to put more money in the pockets of consumers.”

Thinking Able Economy Right Now Lows Percent Seven Rate Consumers Pockets More Money Mortgage Refinance

Author: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.”

Reason Home Economy Gone Track

Author: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.”

Government Economy Growing Percent Size Federal Government Shrinking

Author:Franklin Raines

“Well, there are about 10 million children that aren't covered by health insurance. About 3 million qualify for Medicaid but don't get it, so we're going to reach out and bring more of those kids into the Medicaid program.”

Wells Children Kids Millions Economy Program Covered Reach Out Medicaid

Author:Franklin Raines

“If there's a severe recession, the automatic stabilizers will come into effect, and we will still try to reduce the structural deficit, but we will not try to keep cutting the budget so that we keep worsening a severe recession.”

Ifs Trying Stills Cutting Effects Budgets Fierce Severe Deficit Recessions

Author:Franklin Raines

“We think if the economy remains weak that we could see mortgage rates trail down and we think that we could see rates below seven percent into early next year.”

Ifs Thinking Years Next Economy Walking Percent Weak Down And Remains Seven Rate Trails Next Year Mortgage Mortgage Rate

Author:Franklin Raines

“Well, we're just now seeing the reductions in mortgage rates. The mortgage rates are based on the ten-year rate and the Fed controls the overnight or the shorter rates.”

Years Wells Economy Seeing Ten Rate Feds Mortgage Reduction Mortgage Rate

Author:Franklin Raines

About the Author

Born: January 14, 1949
Known for: Former Director, United States Office of Management and Budget
Quotes: 18

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