The annual job revisions data was released today, which showed that 911,000 jobs that were supposedly created from March 2024 to March 2025 were removed from the books. The estimates were for 818,000 jobs to be lost in this report, so it came in worse than expected. Lower job growth has been a theme recently, […]
911,000 jobs cut in latest revisions. Is the Fed already too late? Read More »
(Bloomberg) — Treasuries slipped, snapping a four-day winning streak, as investors braced for inflation readings this week which may show that ongoing price pressures could stand in the way of US interest-rate cuts. Yields rose by two to three basis points across maturities, with the 10- and 30-year tenors climbing from the lowest levels in
Treasuries end four-day run of gains as focus turns to inflation Read More »
Mortgage rates at their lowest levels in nearly a year are driving a wave of refinance opportunities for lenders ahead of the Federal Reserve’s expected rate cut next week. The shift is encouraging more borrowers to leave the sidelines, with small rate moves already triggering meaningful activity. “Refinance businesses increased significantly from the first quarter,
With a Fed rate cut likely, how big could the refinance wave be? Read More »
Last month, President Donald Trump nominated Stephen Miran to fill a vacant seat on the Federal Reserve’s Board of Governors. And much like other Trump administration picks that require Senate confirmation, Miran’s selection has drawn skepticism from Democratic lawmakers. Miran met last week with members of the Senate banking committee, and a full floor vote
Stephen Miran may join the Fed before the next interest rate vote Read More »
Key Insight: Kevin Hassett, a top White House economist and possible successor to Jerome Powell as chair of the Federal Reserve, said political independence is critical to the Fed and the lack of independence drives inflation. What’s at stake: President Trump has embarked on a campaign to gain a voting majority on the Fed’s Board
Hassett backs Fed independence Read More »
Now that jobs week is over, we are all left with one truth: it really is about the labor market over inflation data when it comes to mortgage rates, which hit a fresh year-to-date low after Friday’s terrible jobs numbers. The question now is whether mortgage rates can drop below 6% and stay there with
Can mortgage rates get below 6% with this Federal Reserve? Read More »
Mortgage rates reached another new low for 2025 on Thursday morning after a weak ADP jobs report caused bond yields to dip slightly ahead of the significant jobs report that will be released on Friday. Current 30-year fixed mortgage rates are at 6.45% according to Mortgage News Daily, marking an 11-month low. Mortgage rates reached
Mortgage rates drop to 11-month low after weak ADP jobs print Read More »
Stephen Miran, chairman of the Council of Economic Advisers and nominee to serve on the Federal Reserve Board of Governors.Bloomberg News The news: Stephen Miran will take unpaid leave from the Council of Economic Advisers, rather than resigning So what?: Democrats spent the confirmation hearing attacking Miran’s conflict of interest and the decline in Fed
Trump Fed nominee won’t resign from White House Read More »
Bloomberg News (Bloomberg) — The Justice Department opened a criminal investigation into whether Federal Reserve Governor Lisa Cook committed mortgage fraud — ratcheting up pressure in President Donald Trump’s bid to oust her from the central bank. Federal prosecutors have issued subpoenas seeking information related to allegations that Cook misrepresented information on mortgage applications, according
Justice Department probing Lisa Cook for mortgage fraud Read More »
Wall Street strategists say investors are becoming more concerned about Federal Reserve independence as President Donald Trump seeks to impose his will on the central bank and pushes for interest-rate cuts. The gold rally and a rotation to value stocks, as well as the widening spread between yields on five- and 30-year Treasuries, show that
Wall Street strategists see more unease on Fed independence Read More »