Key Insight: The October Federal Open Market Committee cut interest rates by 25 basis points as expected, but comments from Chair Jerome Powell caught market watchers off guard, casting doubt on the likelihood of another rate cut in December. Expert Quote: “There were strongly differing views about how to proceed in December. A further reduction […]
Fed’s rate cut trajectory unclear as dueling dissents emerge Read More »
Key Insight: Market watchers expect the central bank to announce an end to its QT program soon, signaling the close of the Fed’s large-scale asset purchases during the pandemic. Economists have varying feelings about the program, with some urging the Fed to reconsider future purchases of mortgage-backed securities. Expert Quote: “You can argue about whether it’s
As Fed mulls the end of QT, what lessons have been learned? Read More »
Treasury Secretary Scott Bessent told CNBC on Wednesday that he’ll soon be giving President Donald Trump several candidates to serve as the next chair of the Federal Reserve. “Likely sometime after Thanksgiving, in December, we’ll present the president with three or four candidates for him to interview,” Bessent told CNBC’s Sara Eisen. Bessent disclosed that he’s trimmed the
Trump to receive Fed chair candidates in December Read More »
Bloomberg News Key insight: Fed Governor Stephan Miran, one of the chief architects of President Donald Trump’s trade policies, said China’s move last week to limit rare earth exports, changed his “sanguine” outlook on economic growth. Expert quote: “It’s about where the balance of risks has moved and risks exist now that didn’t exist a
Miran: China trade war further bolsters rate cuts Read More »
Total mortgage origination volume is projected to surpass $2 trillion by the end of the year for the first time since 2022, according to a recent forecast. The milestone is driven by a 48% jump in refinance dollars and 12% spike in purchase dollars, an overall 20% increase from last year, according to iEmergent’s 2025–2027
Forecast calls for originations to surpass $2 trillion this year Read More »
Key insight: Federal Reserve Gov. Michael Barr said in a speech Thursday that he fears the way tariff price increases are being passed on to consumers could result in an unmooring of inflation expectations, potentially leading to more inflation — and higher interest rates — down the road. Expert quote: “While, in principle, tariffs are
Fed’s Barr skeptical that inflation has been tamed Read More »
Bloomberg News Key Insight: Fed Gov. Stephen Miran said central bank independence in setting monetary policy is of “critical importance,” highlighting that the central bank’s decisions should be insulated from politics. Expert quote: “Monetary policy should be set for the goals that Congress has assigned the Fed — for price stability and full employment —
Miran cites ‘critical importance’ of Fed independence Read More »
Kent Nishimura/Bloomberg Key Insight: Federal Reserve Bank of Kansas City President Jeff Schmid said he supported a 25 basis point cut to interest rates in September as a precautionary measure, but thinks that going forward the central bank should continue to focus on cracking down on inflation. Expert Quote: “I view the current stance of
Fed’s Schmid: Monetary policy is “where it needs to be” Read More »
Andrew Harrer/Bloomberg Key insight: Federal Reserve Chair Jerome Powell said the recent uptick in the unemployment rate and slowing job gains were factors that led the central bank’s rate-setting committee to cut short-term interest rates by 25 basis points. Expert quote: “Our policy is not on a preset course. We will continue to determine the
Fed’s Powell mum on future interest rate cuts Read More »
Al Drago/Bloomberg Key insight: Fed Vice Chair for Supervision Michelle Bowman signaled that she is onboard for notable short term interest rate cuts if the labor market picture continues to worsen. Expert quote: “The recent data, including the estimated payroll employment benchmark revisions show that we are at serious risk of already being behind the
Fed’s Bowman: ‘Serious risk’ of labor market deterioration Read More »