Mortgage rates decreased slightly on Wednesday morning to a year-to-date low of 6.49% after the job openings data came in below expectations. The key takeaway from this BLS report is that we now have more unemployed workers than job openings. This is significant because the Federal Reserve has traditionally valued job openings data and has […]
Mortgage rates hit a new 2025 low after soft job openings report Read More »
Alberto Musalem, president of the Federal Reserve Bank of St. Louis.Bloomberg News WASHINGTON — A member of the Federal Reserve’s interest rate-setting committee emphasized the importance of the central bank’s independence amid a looming challenge from the Trump administration. Federal Reserve Bank of St. Louis President Alberto G. Musalem, speaking at an event at the
Fed’s Musalem: ‘Accountable’ central bank independence is key Read More »
Al Drago/Bloomberg Federal Reserve Gov. Lisa Cook’s attorneys filed additional briefs in her case against President Trump over his moves to oust her from her seat on the Fed board, and the judge overseeing the case has scheduled final briefs to be due Sept. 4. Cook’s attorney, Abbe Lowell, founder of Lowell & Associates, asked
Key filings in Fed independence suit due Thursday Read More »
Federal Reserve Governor Lisa Cook’s lawyers blasted President Donald Trump’s move to oust her as based on nothing more than a pack of “cut-and-paste” allegations related to mortgage fraud. In a flurry of court filings Tuesday, Cook’s lawyers emphasized arguments that Trump lacked valid grounds to fire Cook “for cause,” a key issue in her
Lisa Cook blasts Trump’s ‘cut-and-paste’ mortgage fraud claims Read More »
Prominent economists are rallying behind Federal Reserve Governor Lisa Cook after President Donald Trump moved to fire her based on allegations that she committed mortgage fraud. More than 450 economists signed an open letter backing Cook, saying there is a high bar for removing Fed governors and that elected officials should refrain from actions and
Over 450 economists back Cook, Fed independence in open letter Read More »
Graeme Sloan/Bloomberg Following its annual stress tests, the Federal Reserve on Friday set new capital requirements for the nation’s largest banks, setting the minimum equity they must hold to absorb losses in a downturn. Vice Chair for Supervision Michelle Bowman said the requirements come during a “period of transition” for the Fed’s stress testing system,
Fed sets this year’s capital requirements for large banks Read More »
Bloomberg News An emergency court hearing to determine whether Federal Reserve Gov. Lisa Cook can remain on the central bank’s board while her lawsuit against President Donald Trump unfolds concluded without a ruling Friday. On Thursday, Cook sued the president in the U.S. District Court for the District of Columbia over Trump’s attempts to oust
No ruling on whether Fed. Gov. Lisa Cook stays on the job Read More »
Eric Lee/Bloomberg A group of Democratic lawmakers called on Federal Housing Finance Agency’s Director Bill Pulte to “do his job” and focus on finding solutions to make housing more affordable, rather than concentrating on matters outside his purview — such as who runs the Federal Reserve. In a letter Friday, U.S. Sens. Elizabeth Warren, D-Mass.,
Democrats urge FHFA’s Pulte to ‘do his job’ Read More »
Federal Reserve Governor Lisa Cook filed suit against President Trump in a federal court in Washington, D.C. on Thursday. The lawsuit follows Trump’s announcement on Monday that he was attempting to fire Cook over allegations she committed occupancy fraud by designating two different properties as her primary residence in 2021. Fed Chair Jerome Powell and
Lisa Cook files suit against Trump, Powell and Fed Board of Governors Read More »
Homebuyers remained hesitant in July, despite the slight decrease in mortgage rates and uptick in inventory, according to the National Association of Realtors’ (NAR) Pending Home Sales Index released Thursday. Nationwide, the index fell to a value of 71.7, down 0.4% from June. On an annual basis, however, pending home sales were up 0.7%. An
Pending home sales show slight annual gain in July Read More »