FHFA Director Bill Pulte called for Federal Reserve Chairman Jerome Powell to resign today, shortly after President Trump urged Powell to cut the Fed funds rate by 2.5% in a social post. This follows the Federal Reserve’s decision yesterday to keep the Fed Funds rate unchanged. Although Powell pointed out the challenges of finding a […]
FHFA Director Bill Pulte calls on Fed Chair Powell to resign Read More »
Today, President Trump called Fed Chairman Jerome Powell “Too Late” in a social post and said that he can save the country billions of dollars by shaving 2.5% off the Fed Funds rate. This is part of an ongoing Trump attack on the Fed Chair to cut rates, but is this strategy the best way
Trump wants Powell to lower rates. Here’s how to do that Read More »
A rising tide of financial pessimism is washing over U.S. consumers, driven by concerns about inflation, global instability and a lack of economic clarity. At the same time, a solid majority of Americans remain optimistic about their financial future, according to TransUnion’s Consumer Pulse Study for the second quarter of 2025. The result is a
‘Feelings-based recession’: More Americans fearful of finances Read More »
The Federal Reserve held benchmark rates steady in the range of 4.25% to 4.5% following its two-day meeting on Wednesday, a decision with implications for the mortgage industry. The move, expected by virtually all monetary policy watchers, underscores the challenge facing the Federal Reserve — deciding when it’s appropriate to cut rates. It’s a delicate
Fed holds rates steady amid inflation concerns, resilient job market Read More »
Not only does the full panel of economists surveyed by Wolters Kluwer feel the Federal Open Market Committee will not cut short-term rates at its meeting today and tomorrow, less than 10% expect it to act in July. The Blue Chip Economic Indicators report also soundly discounts Pres. Trump’s call for the Fed Funds Rate
No Fed rate cut until September at earliest, economists say Read More »
As Trump administration officials press ahead with their efforts to dismantle and defund the Consumer Financial Protection Bureau (CFPB), the Federal Reserve Office of the Inspector General (OIG) is reportedly opening an investigation into moves to fire the vast majority of CFPB and attempted cancellations of associated federal contracts. According to reporting by CNBC, the
Federal Reserve watchdog investigates efforts to dismantle CFPB Read More »
David Paul Morris/Bloomberg UPDATE: This article includes a quote from Treasury Sec. Scott Bessent. Inflation rose modestly last month, signaling that the U.S. economy might be feeling the effects of elevated tariffs. The Consumer Price Index increased 0.1% in May, bringing the year-over-year inflation rate to 2.4%. The monthly increase was less than the 0.2%
Fed likely to hold steady after muted tariff impact in CPI Read More »
Today marked a significant development in the ongoing dialogue between President Trump and Elon Musk, as their relationship appears to have reached a critical point of conflict. The question for those in housing is: How could this impact mortgage rates moving forward? The 10-year yield saw a slight increase earlier as it reacted to the
How the Trump/Musk dispute could influence mortgage rates Read More »
Federal Reserve Board NEW YORK — At least one Federal Reserve official expects tariffs to lead to higher inflation, and she is worried the effects could be long lasting. Speaking before the Economic Club of New York on Thursday, Fed Gov. Adriana Kugler said she sees ways in which higher trade barriers could lead to
Fed’s Kugler not ready to look past tariff inflation Read More »
This story has been updated with an analyst’s comments. Wells Fargo has finally broken free from the regulatory shackles that have constricted its growth for more than seven years. The Federal Reserve announced Tuesday that it has lifted the $1.95 trillion asset cap it imposed on Wells in 2018. The cap’s termination is a watershed
Wells Fargo sheds asset cap, ending seven years of handcuffs Read More »