Key Insight: Consumer prices rose 0.4% in August, doubling July’s 0.2% increase, indicating inflation is rising but remains moderate. Supporting Data: The inflation numbers come after the U.S. economy reported only 22,000 jobs in August, the weakest gain since the pandemic recovery, while unemployment ticked up to 4.3%. Forward Look: The data likely does not […]
Inflation creeps higher in August, amid looming rate cut Read More »
What’s at stake: President Trump moved to fire Federal Reserve Gov. Lisa Cook via social media on Aug. 25, five days after Housing FInance Agency Director Bill Pulte raised allegations that Cook had engaged in mortgage fraud. Cook challenged her removal in court and was granted a preliminary injunction Tuesday night. Key insight: Pulte publicly
Experts: Pulte’s disclosures on Cook may violate privacy law Read More »
Congress faces tough budget negotiations this month over the National Flood Insurance Program reauthorization and other issues, putting the single-family mortgage market on alert. Without a NFIP renewal by Sept. 30, flood coverage could lapse and a broader congressional impasse could cause a new government shutdown, requiring workarounds. What follows are a few of the
How lenders can prep for NFIP lapse, shutdown Read More »
Housing finance experts have a myriad of ideas for President Donald Trump should he declare a national housing emergency. Treasury Secretary Scott Bessent hinted at the move in a Labor Day interview with the Washington Examiner, noting that closing costs “are on the table.” While housing regulators have implemented some measures this year to address
What lenders want if Trump declares housing emergency Read More »
US Chief Justice John Roberts let President Donald Trump temporarily oust a Democratic member of the Federal Trade Commission, signaling that the Supreme Court is likely to back Trump’s bid to assert control over the independent agency. Rebecca Kelly Slaughter, the FTC’s only Democrat, had briefly returned to her job after a federal appeals court
US chief justice lets Trump oust FTC commissioner for now Read More »
Key Insight: Kevin Hassett, a top White House economist and possible successor to Jerome Powell as chair of the Federal Reserve, said political independence is critical to the Fed and the lack of independence drives inflation. What’s at stake: President Trump has embarked on a campaign to gain a voting majority on the Fed’s Board
Hassett backs Fed independence Read More »
As the trigger leads bill becomes a reality, lenders are considering whether its impact on the mortgage industry goes beyond simply cutting down consumer calls and texts. The restrictions regarding credit reports won’t go into effect until six months after Trump’s signature Friday. While the Homebuyers Privacy Protection Act should undercut the leads and messages
How a trigger leads crackdown could lift retention rates Read More »
Key insight: The Consumer Financial Protection Bureau released a jam-packed rulemaking agenda for the year ahead. Supporting data: The latest unified agenda lists 24 rulemakings including five final rules, 10 proposed rules, 9 pre-rules and one long-term item. What’s at stake: The bureau is in a legal battle to fire between 80% and 90% of
CFPB’s deregulatory agenda aims to rewrite Biden-era rules Read More »
Bloomberg News WASHINGTON — The Bureau of Labor Statistics reported that the economy added 22,000 jobs in August, an anemic growth rate that could pave the way for the Federal Reserve to lower interest rates during their next meeting later this month. BLS reported that the unemployment rate ticked up slightly to 4.3%, while the
Economy adds anemic 22,000 jobs in August Read More »
Stephen Miran, chairman of the Council of Economic Advisers and nominee to serve on the Federal Reserve Board of Governors.Bloomberg News The news: Stephen Miran will take unpaid leave from the Council of Economic Advisers, rather than resigning So what?: Democrats spent the confirmation hearing attacking Miran’s conflict of interest and the decline in Fed
Trump Fed nominee won’t resign from White House Read More »