Prominent economists are rallying behind Federal Reserve Governor Lisa Cook after President Donald Trump moved to fire her based on allegations that she committed mortgage fraud. More than 450 economists signed an open letter backing Cook, saying there is a high bar for removing Fed governors and that elected officials should refrain from actions and […]
Over 450 economists back Cook, Fed independence in open letter Read More »
Graeme Sloan/Bloomberg Following its annual stress tests, the Federal Reserve on Friday set new capital requirements for the nation’s largest banks, setting the minimum equity they must hold to absorb losses in a downturn. Vice Chair for Supervision Michelle Bowman said the requirements come during a “period of transition” for the Fed’s stress testing system,
Fed sets this year’s capital requirements for large banks Read More »
Bloomberg News An emergency court hearing to determine whether Federal Reserve Gov. Lisa Cook can remain on the central bank’s board while her lawsuit against President Donald Trump unfolds concluded without a ruling Friday. On Thursday, Cook sued the president in the U.S. District Court for the District of Columbia over Trump’s attempts to oust
No ruling on whether Fed. Gov. Lisa Cook stays on the job Read More »
Eric Lee/Bloomberg A group of Democratic lawmakers called on Federal Housing Finance Agency’s Director Bill Pulte to “do his job” and focus on finding solutions to make housing more affordable, rather than concentrating on matters outside his purview — such as who runs the Federal Reserve. In a letter Friday, U.S. Sens. Elizabeth Warren, D-Mass.,
Democrats urge FHFA’s Pulte to ‘do his job’ Read More »
Federal Reserve Governor Lisa Cook filed suit against President Trump in a federal court in Washington, D.C. on Thursday. The lawsuit follows Trump’s announcement on Monday that he was attempting to fire Cook over allegations she committed occupancy fraud by designating two different properties as her primary residence in 2021. Fed Chair Jerome Powell and
Lisa Cook files suit against Trump, Powell and Fed Board of Governors Read More »
Homebuyers remained hesitant in July, despite the slight decrease in mortgage rates and uptick in inventory, according to the National Association of Realtors’ (NAR) Pending Home Sales Index released Thursday. Nationwide, the index fell to a value of 71.7, down 0.4% from June. On an annual basis, however, pending home sales were up 0.7%. An
Pending home sales show slight annual gain in July Read More »
Enjoy complimentary access to top ideas and insights — selected by our editors. Federal Reserve Board chairman Jerome Powell’s apparent pivot, widely seen as telegraphing a short-term rate cut in September, helped drive mortgage rates. However, the decline on the 30-year fixed rate mortgage was a mere 2 basis points, to 6.56% as of Aug.
Mortgage rates hit 10-month low as Powell hints at Fed cut Read More »
Mortgage rates hit a new low today for 2025, despite President Trump’s attempt to fire Fed Governor Lisa Cook on Monday, which many said would drive up bond yields and mortgage rates this week. I completely understand that this is a complex and confusing topic. On today’s episode of the HousingWire Daily podcast, I discuss
Mortgage rates hit a new year-to-date low, despite Fed drama Read More »
Federal Reserve Governor Lisa Cook plans to sue President Donald Trump after he attempted to fire her on Monday, citing allegations of mortgage fraud. The case has renewed concerns over the Fed’s independence and added fresh volatility to financial markets. “President Trump has no authority to remove Federal Reserve Governor Lisa Cook. His attempt to
Fed’s Lisa Cook to sue Trump over attempted firing Read More »
Federal Reserve Gov. Lisa Cook.Bloomberg News President Donald Trump’s unprecedented move to fire Federal Reserve Gov. Lisa Cook Monday is likely to kick off a high-stakes legal battle over the exact contours of the central bank’s independence, and that battle will likely hinge on whether past actions can disqualify a board member from their current
Cook firing takes the Fed into the unknown Read More »