Key insight: Unemployment ticked slightly up to 4.4% — from 4.3% in August — and revisions of prior reports show weaker employment gains over the summer. Supporting data: The economy added 119,000 jobs and 7.6 million unemployed, with major losses in transportation and government offset by gains in health care and social services. Forward look: […]
Unemployment persistent, jobs up in September 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 »
Key insight: Hill’s continued tenure at the FDIC isn’t likely to change the agency’s direction on bank policy. Forward look: His nomination now goes to the full Senate, where he’s expected to be confirmed. What’s at stake: Hill’s policies at the FDIC have included rescinding ILC rules and pursuing policies that he has said will
Senate Banking Committee approves Hill to lead FDIC Read More »
Key Insight: The nomination allows acting CFPB Director Russell Vought to bypass the Federal Vacancy Reform Act. What’s at Stake: Vought has three weeks left before he reaches the 210-day limit to remain at the agency. With the nomination, he gets another 210 days and potentially can lead on an acting basis for 420 days.
Trump taps OMB official as new nominee for CFPB director Read More »
Hedge fund manager, billionaire and legacy government-sponsored enterprise investor Bill Ackman is pushing his plan for Fannie Mae and Freddie Mac in response to officials’ call for input. Ackman, who previously has suggested that the GSEs be merged, backed off that concept in a live broadcast and subsequent Q&A in an X space Tuesday morning
What Bill Ackman thinks should happen to the GSEs Read More »
The Trump administration floated the idea of a 50-year mortgage this weekend with the intention of improving affordability, but some data analyses indicate it could do the opposite. The interest paid for a 50-year mortgage on a $500,000 loan with a 6.10% annual percentage rate, roughly the current average for a 30-year fixed-rate mortgage, would
50-year mortgage plan piles on interest, analysis finds Read More »
Key insight: Bessent says Trump policies boost Treasury market, lower borrowing costs. Supporting data: Treasury returns are up 6% this year. Forward look: Treasury to keep auctions steady, avoid market shocks. Treasury Secretary Scott Bessent Wednesday said the administration’s economic policies were addressing affordability for Americans.Speaking Wednesday at the New York Fed’s Treasury Market Conference
Bessent credits Trump policies for bond market Read More »
The Senate-approved budget extender has several provisions around the Veterans Affairs partial claims program to help distressed borrowers. In particular, one section of the bill is called in part Improvements to Partial Claim Program. A change extends the period for a second partial claim filing following a natural disaster to 180 days from 120 days.
Senate-approved budget bill adds VA partial claims extension Read More »
The Federal Home Loan Bank System has an economic benefit at least nearly twice the size of a Congressional Budget Office estimate of its implied-guarantee cost, new research shows. The system has at least a $13.2 billion benefit annually, 1.9 times what the CBO has estimated is its main $6.9 billion government subsidy, according to
FHLBank benefits at least 1.9 times guarantee costs: study Read More »
As the government shutdown comes to an end, two congressmen introduced legislation to retroactively restore the National Flood Insurance Program. Reps. Troy Carter, D-La., and Mike Ezell, R-Miss., introduced the Retroactive Renewal and Reauthorization Act to the House Monday, with hopes to backdate the reauthorization of the insurance program to Sept. 30, the day before
Flood insurance retroactive restoration bill introduced Read More »