But supply is not growing because mills have been running near capacity for years.
The report also warned that the supply of new housing is growing much more rapidly than demand in many areas.
"We had to do something," he added, because the supply of candidates was growing much more slowly.
When he was established, the supply grew to a constant level and stayed there.
At the right price, supply grows to meet demand.
Prices shot up everywhere because the federal government made the supply of money grow faster than the real economy created value.
"More people appear to be looking to use it in areas where the supply is not growing."
The demand hasn't got smaller but the supply has grown enormously.
So, the supply of consumers with money in their pockets is growing slowly even without a recession.
The price of oil fell $1.22, or 4 percent, to $28.56 a barrel, as traders took heart that supplies might be growing soon.