Politics

President Donald Trump administered Federal Reserve Chair Kevin Warsh's oath of office in a ceremony Friday morning. Warsh is expected to pursue changes at the central bank, including a push to reduce its $6.7 billion balance sheet. 

Federal Reserve Gov. Christopher Waller said in a speech Friday that he favors holding interest rates steady until energy prices fall, but noted that the central bank should be ready to hike rates if inflation gets too far out of hand.

The House passed housing legislation that includes a slightly pared-down institutional investor housing ban, as well as a raft of community bank measures.

The co-author of the landmark Dodd-Frank Act and progressive congressional trailblazer Rep. Barney Frank, D-Mass., has died.

The newest version of the House housing bill would make a ban on institutional investors owning some homes less harsh than the Senate version by removing a seven year mandate on selling build-to-rent homes.

Executives from Guild and NewRez discussed the steps they are taking as participants in the pilot phase of the roll out of VantageScore 4.0 and FICO 10T.

Department of Housing and Urban Development officials indicated that there are improvements in some delinquency stages and cure rates are better than expected.

Secondary market experts are split on whether the Fed's next move will be a rate decrease in 2027 or an increase, as more observers are now thinking.

Federal Reserve Gov. Michael Barr Thursday warned against efforts to shrink the central bank's balance sheet, saying that effort could undermine financial stability and disrupt money markets.

House lawmakers modified a ban on big-money investors from purchasing single-family homes, broadening the exemptions for build-to-rent properties and eliminating requirements in a Senate version of the bill that affected investors divest their holdings.

The Senate voted 54-45 to confirm Kevin Warsh to lead the central bank. Warsh will take the reins from Jerome Powell, who said he will remain on the Federal Reserve Board.

Restricting institutional investors is bad policy, but reforming 1031 exchanges and requiring public listings for HUD homes could boost affordability, according to the Chairman of Whalen Global Advisors.

The Federal Housing Administration put an end to pandemic-era relief last year, triggering a 28% jump in foreclosures on FHA loans in the first quarter and an expected spike in defaults ahead.

Builders Capital Exchange has a $2 billion multi-year annual funding commitment, while RCLCO Fund Advisors creates joint venture which will acquire communities.

The Consumer Price Index for April showed consumer prices rising across all categories, including food and shelter costs, and up 3.8% year-over-year. Grocery prices rose 0.7% from the month prior.

Market watchers say that the economy as a whole is holding up under higher energy prices and do not expect a recession. Even so, observers are watching financial markets and consumer spending for signs that inflation expectations are taking hold.

The changes include clearer and revamped questions and updated requirements for criminal, regulatory and financial disclosures, the CSBS said.

The Federal Reserve's April financial stability report found that asset valuations remain elevated, even as investors are beginning to demand more compensation for risk amid rising uncertainty around monetary policy.

Employers hired an additional 115,000 workers in April, while unemployment remained unchanged at 4.3%. Despite the positive headline figure, a spike in newly unemployed workers and a rising number of underemployed workers suggests instability under the surface.

The Treasury Department held a high-stakes huddle with state insurance officials to discuss risks associated with the rapid growth of private credit in the economy and whether those investments could pose systemic vulnerabilities.