Following pressure from Sen. Elizabeth Warren, Federal Reserve Chair Jerome Powell has indicated that the Fed's Board of Governors will hold a vote to decide whether or not to lift growth restrictions placed on the megabank. Plus, here's why Capital One putting a stop to mortgage lending is good for its investors.
Jerome Powell will serve as the next chair of the Federal Reserve after the Senate voted Tuesday to confirm Powell’s nomination. Powell, who has served as a Fed governor for more than five years, was confirmed by a vote of 85-12.
Fed Chair Janet Yellen, who was appointed to the Board by former President Barack Obama to serve until January 21, 2024, announced Monday she will resign from the Fed upon the swearing in of her successor. Although Yellen’s term was not set to expire until 2024, she will now step down from her position early next year.
The Senate Committee On Banking, Housing, And Urban Affairs scheduled the confirmation hearing of President Donald Trump’s nomination of Jerome Powell to be the next Federal Reserve chair for Nov. 28. This won’t be Powell’s first time in the hot seat though.
Treasury Secretary Steven Mnuchin revealed the latest update on the administration’s progress in nominating Fed members. During his interview, Mnuchin also spoke to Fed Chair Janet Yellen’s future, saying she was still undecided on what she will do next.
President Donald Trump nominated the next Federal Reserve Chair, and, pending nomination from the Senate, Jerome Powell will begin his new position in February 2018. Now, most of the mortgage industry stands behind the president’s pick, however some experts still have their doubts.
The Federal Open Market Committee wrapped up its second-to-last meeting of the year. The meeting, which started on Tuesday and ended on Wednesday, concluded just a day before President Donald Trump is slated to reveal who the next Federal Reserve chair will be.
As President Donald Trump gets ready to reveal the new Federal Reserve chair on Thursday, Realtor.com’s Chief Economist Danielle Hale explains what the housing market needs from whoever fills the role.
Zeroing in on a more specific day this week, White House officials said President Donald Trump will announce his nominee for the next Federal Reserve chair on Thursday. But will his nomination make it through Senate confirmation?
He wears t-shirts to his televised interviews; not very CEO. He played sports at a high level, but rarely brings it up and when he does he talks about it as a mere chapter in his life. Honestly, who plays a Super Bowl and doesn’t describe it as the defining moment in their personal journey? Casey Crawford, that’s who. His family is a big part of his life of course, but he talks about his even larger family — his coworkers — in terms that are just as glowing.
One of the things that has bedeviled mortgage financing post-crisis has been the absence of the private label mortgage backed securities market. During the peak years, private label MBS issuance topped $1 trillion. In 2017, only $70 billion of private label RMBS were issued, although that is a big increase from 2016.
Digital technology has disrupted businesses and industries from publishing to public transportation, so can the mortgage industry be far behind? Actually, anyone who’s applied for a mortgage recently will have recognized that things are already changing fast.