Politics

Hedge fund manager Scott Bessent had been the betting favorite to take the reins at Treasury. Scott Turner, a former congressman and NFL player, will lead the housing agency.

In its latest financial stability report, the Federal Reserve warned high equity valuations and low levels of liquidity could leave the financial system vulnerable to shocks.

Existing efforts to reform the Federal Home Loan Bank System may look dead on arrival in a Trump administration, but the proposed Department of Government Efficiency may not be able to resist such low-hanging fruit.

The Federal Reserve governor said the Supreme Court ruling could bring needed transparency and efficiency to regulatory policymaking.

In a congressional hearing, top officials from the Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency said no new rules will be adopted or proposed this year.

In the aftermath of the election, a bipartisan group of House members are the latest to ask the FHFA to put the owner's title insurance waiver pilot on hold.

The Federal Housing Administration reported a 96 basis point increase in its capital ratio for fiscal year 2023, and lenders want more changes to the program.

In its semiannual supervision and regulation report, the Federal Reserve flagged climbing loan delinquencies and a rising number of large bank citations for governance and controls.

The Federal Reserve chair said there are no economic indicators calling for rapid rate cuts. He also addressed Fed independence, the impact of Trump's economic agenda and more.

Rep. Matt Gaetz, R-Fla., whose chances of getting confirmed as attorney general are unclear in the wake of allegations of sex trafficking and a House ethics probe against him, cuts a more populist profile than many expected from a Republican president.