Key Insight: Even though ethics violations among Fed officials are uncommon, high-profile cases like that of former Fed Gov. Adriana Kugler highlights persistent questions about oversight effectiveness. Expert Quote: “When you’re in a position that’s as influential as working at the Federal Reserve, you’re governed by the law of Caesar’s wife — be above suspicion.” […]
Does the Fed have an ethics problem? Read More »
Kevin Hassett, director of the White House National Economic Council, is the leading candidate to be the next Federal Reserve chair, advisers and allies of President Donald Trump told Bloomberg, as the deadline for a new Fed governor approaches. Trump has voiced his opposition to the current Fed leader, Jerome Powell. Trump has threatened to
Kevin Hassett is the rumored lead for Fed chair position Read More »
Treasury Secretary Scott Bessent said that a key theme of his interviews for the next chair of the Federal Reserve has been simplifying the US central bank, which he indicated has become too complex in how it manages money markets. “One of the things in terms of the criteria that I’ve been looking for” has
Bessent calls for simplified Fed as he ends candidate interviews Read More »
Several candidates have been publicly identified to serve as the next chair of the Federal Reserve, with current Chair Jerome Powell‘s term coming to an end in May. Treasury Secretary Scott Bessent told CNBC’s Sara Eisen in October that he would give President Donald Trump “three or four candidates for him to interview” shortly after Thanksgiving. Trump, however, told reporters
With Powell set to move on, who are the candidates for the next Fed chair? Read More »
Aaron Schwartz/Bloomberg Key Insight: Federal Reserve Gov. Stephen Miran said certain bank regulations are preventing the Fed from further shrinking its balance sheet. Expert Quote: “Trying to settle the ongoing debates on how monetary policy is best implemented before settling the regulatory framework is putting the cart before the horse.” — Federal Reserve Gov. Stephen
Fed’s Miran: Banks should hold more Treasuries, less reserves Read More »
Last week was a solid week for housing demand. Our weekly pending sales data increased by 15.36% year over year, and the Mortgage Bankers Association‘s purchase application data showed 31% year-over-year growth. In fact, if I average the last two weeks, purchase application data is up 28.5% year over year and our weekly pending home
Despite economic uncertainty, weekly housing demand up double digits over 2024 Read More »
Jeremy Erickson/Bloomberg Key insight: Economists see validity in Fed Gov. Miran’s argument that shelter inflation is coming down, but note the impact to overall inflation may vary in significance. Expert quote: “I don’t think that rental disinflation is really going to be enough of a reason on its own to say ‘mission accomplished on inflation.’ I
Fed Gov. Miran has a view on the economy. Is it persuasive? Read More »
After the Federal Open Markets Committee reduced short-term rates by 25 basis points at each of its two most recent meetings, economists are mixed on whether the December meeting will have a third cut, the November Wolters Kluwer Blue Chip Economic Indicators study found. The survey was taken on Nov. 4 and 5, prior to
December Fed rate cut still on the table for most economists Read More »
David Paul Morris/Bloomberg Key Insight: Federal Reserve Bank of Atlanta President Raphael Bostic, the first black and openly gay head of the regional bank, will end his term in early 2026. Until a successor is appointed, Cheryl Venable, vice president of the Atlanta Fed, will step in to fill the role. Expert Quote: “I’m proud of
Atlanta Fed President Bostic to retire in early 2026 Read More »
Trump on Saturday posted an image on social that seemed to suggest he would be proposing 50-year mortgages, something FHFA Director Bill Pulte confirmed shortly after on X. The image Trump posted on Truth Social features a head shot of President Franklin Delano Roosevelt under the title 30-year mortgage, and his own head shot under
Trump proposes 50-year mortgage to help affordability Read More »