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Politics and policy

Fed’s Cook sees risk in gen AI-manipulated financial trading

Artificial Intelligence, Politics and policy, Regulation and compliance /

Key Insight: Federal Reserve Gov. Lisa Cook says emerging risks are arising over how artificial intelligence may influence financial markets. Expert quote: “Recent theoretical studies find that some AI-driven trading algorithms can indeed learn to collude without explicit coordination or intent, potentially impairing competition and market efficiency.” — Federal Reserve Gov. Lisa Cook.  What’s at […]

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FHA waives disclosure as nominee for commissioner advances

FHA, Originations, Politics and policy /

The Federal Housing Administration is waiving its policy requiring mortgagees to provide borrowers with a longstanding notice that lays out FHA loan rights and responsibilities. The waiver for use of the “Important notice to homebuyers” disclosure is in line with the federal government’s broader deregulatory agenda, and ends the use of “a redundant and outdated

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Trump quips he’ll fire Bessent if interest rates not lowered

Mortgage Rates, Originations, Politics and policy /

President Donald Trump suggested he would fire Scott Bessent if the Treasury secretary doesn’t help secure lower interest rates, expressing ongoing frustration with the Federal Reserve’s reluctance to cut rates more quickly. Trump’s remarks — made in a joking tone — come amid increased pressure on the administration from voters to lower the cost of

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Unemployment persistent, jobs up in September

Economy, Jobless claims, Politics and policy /

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:

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Fed’s Miran: Banks should hold more Treasuries, less reserves

Fed’s Miran: Banks should hold more Treasuries, less reserves

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

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

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Senate Banking Committee approves Hill to lead FDIC

FDIC, Politics and policy, Trump administration /

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

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Trump taps OMB official as new nominee for CFPB director

Consumer banking, Politics and policy, Trump administration /

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.

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What Bill Ackman thinks should happen to the GSEs

Capital markets, Politics and policy, Secondary markets, The Great American Mortgage Corporation /

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

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50-year mortgage plan piles on interest, analysis finds

Interest rates, Originations, Politics and policy /

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

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Bessent credits Trump policies for bond market

Politics and policy, Regulation and compliance, Treasury Department /

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

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