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Federal Reserve

Fed bank presidents face risk of removal on Trump’s maneuvers, Brainard says

Federal Reserve, FOMC, Lael Brainard /

(Bloomberg) — Former Federal Reserve Vice Chair Lael Brainard suggested there’s a real risk of multiple Fed district bank presidents getting removed from office next year as a result of politically charged maneuvering by President Donald Trump. Brainard, who served on the Fed board from 2014 to 2023, spoke a day after Trump moved to […]

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Trump fires Lisa Cook in latest move to pack Federal Reserve with supporters

Bill Pulte, Donald Trump, Federal Reserve, HWmember, Jerome Powell, Mortgage Rates, Politics /

President Donald Trump fired Federal Reserve Governor Lisa Cook Monday evening after calling for her resignation last week over allegations of mortgage fraud. The move further consolidates Trump’s power at the Fed, which has traditionally been an independent organization shielded from overtly political actions. Cook, who was appointee to the seven-member Federal Reserve Board by

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Trump fires Fed Gov. Lisa Cook ‘effective immediately’

Federal Reserve, Monetary policy, Politics and policy, Trump administration /

Bloomberg News President Donald Trump fired Federal Reserve Gov. Lisa Cook from her post in a Monday night social media post, the first time a Federal Reserve Governor has ever been removed by a president. In a move that is all but certain to ignite an unprecedented legal fight over the Fed’s independence, Trump posted

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Powell’s Jackson Hole speech stirs cautious optimism for housing

Federal Open Market Committee, Federal Reserve, HWmember, Jerome Powell, LendingLife, Mortgage, Mortgage Rates, Mortgage Rates Center, Origination, Regulatory /

Federal Reserve Chair Jerome Powell’s speech on Friday at the Jackson Hole Economic Symposium left real estate and mortgage professionals cautiously optimistic. While expectations are building for lower interest rates, volatility remains a concern. In his final address as Fed chair at the Federal Reserve Bank of Kansas City’s annual conference, Powell signaled the possibility

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Mortgage rates hit year-to-date lows after Powell comments

Federal Reserve, Housing Demand, Housing Market, HWmember, Jerome Powell, Mortgage Rates, Purchase Applications /

We’ve reached fresh new year-to-date lows in mortgage rates after Jerome Powell, speaking at the Jackson Hole Economic Summit on Friday, suggested that the labor market may be more important than inflation for the time being. If only someone had been saying that for a few years! All jokes aside, mortgage rates have been trending

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Fed found over 22,000 mortgages like those Pulte is now flagging

Federal Reserve, Mortgage Fraud /

President Donald Trump and his allies are demanding Federal Reserve Governor Lisa Cook resign over alleged owner-occupancy fraud — a practice the central bank itself has found to be “broad-based” across the US. Philadelphia Fed researchers in a 2023 report assessed the number of “fraudulent investors” in the mortgage market, which they defined as those who had

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Trump calls on Fed’s Cook to quit over mortgage probe

Federal Reserve, FHFA, Law and legal issues, Mortgage Fraud /

President Trump is demanding the resignation of Federal Reserve Governor Lisa Cook after his housing chief accused her of lying on mortgage applications. The allegations, if true, could force a shake-up at the central bank and hand Trump another appointment. “Cook must resign, now!!!” Trump wrote in a Truth Social post Wednesday, including a link

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Mortgage rates continue their slow march toward 6%

Federal Reserve, Homebuilders, HWmember, LendingLife, Mortgage, Mortgage Rates, Mortgage Rates Center, New Home Sales /

Housing market dynamics have grown more favorable for buyers and sellers in August, and it’s possible that the fall of 2025 could see even better conditions if mortgage rates return to 6%. But they haven’t approached that level in nearly a year and haven’t been consistently below that threshold since late 2022. Rates have been

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Fed’s Bowman: Banks, regulators must embrace emerging tech

Federal Reserve, Politics and policy, Regulation and compliance, Technology /

The Federal Reserve’s top banking regulator is promoting a pro-technology approach, urging a shift away from what she called “an overly cautious mindset” toward banks adopting innovative tools such as blockchain and artificial intelligence. In a speech Tuesday, Federal Reserve Vice Chair for Supervision Michelle Bowman said regulators must understand new products and services used

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Bond market’s rate-cut bets hit decisive stretch with Powell

Economic news, Federal Reserve, Treasury bonds /

Bond traders’ big bet that the Federal Reserve is poised to lower interest rates faces a key moment this week as Chair Jerome Powell gets a chance to weigh in on the economy. Powell’s speech on Friday at the central bank’s annual gathering in Jackson Hole, Wyoming, kicks off a make-or-break stretch for the Treasury market, which

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