Politics

House Speaker Mike Johnson, R-La., reportedly plans to send the recently passed housing bill to the White House on Monday, starting a 10-day clock for the president to sign the bill.

Christopher Phelan, President Donald Trump's nominee to chair the Council of Economic Advisers, declined to directly answer questions about recent inflation data and the effects of tariffs on consumers during a Senate confirmation hearing Thursday.

The Bureau of Economic Analysis' personal consumption expenditures inflation report for May showed that inflation had risen 4.1%, meeting elevated expectations and casting further doubt on the prospects of near-term interest rate cuts from the Federal Reserve.

President Donald Trump said he wouldn't sign the housing bill, which includes several riders aimed at helping community banks, until Congress passes the SAVE Act.

The Federal Reserve's new chair wants to change the way the central bank communicates with markets and the public. What those changes ultimately amount to could represent a major shift in an agency that has made transparency a guiding light for decades.

The decline in non-owner occupied acquisitions came as sales fell overall due to high mortgage rates and bad winter weather in the Northeast, BatchData said.

Newly minted Federal Reserve Chair Kevin Warsh will host his inaugural press conference on Wednesday. Bankers will be paying close attention to what he says — and how he says it.

The government-sponsored enterprise has provided language that servicers may utilize in situations involving temporary interest-rate buydowns.

Banking Committee Democrats warned that the Trump administration's failure to nominate Democrats to vacancies at the Federal Deposit Insurance Corp., Securities and Exchange Commission and National Credit Union Administration threatens the bipartisan structure Congress established for financial regulators.

The White House has nominated Brian Johnson, the former CFPB deputy and a veteran Capitol Hill staffer, to permanently lead the bureau.

Over three-quarters of the Wolters Kluwer Blue Chip Economic Indicators panel said the FOMC will ease eventually, but a growing number are now expecting a hike.

The Federal Reserve governor warned in a speech Saturday that lower capital requirements and lighter supervision could create a credit 'sugar high' that could spur excessive risk-taking, with potentially significant long-term consequences.

The announcement follows a leave of absence in which Ginnie Mae President Joe Gormley helped cover the Federal Housing Admission Commissioner's responsibilities.

Members of the House Financial Services Committee pressed prudential bank and credit union regulators about the potential risks of bank lending to private credit firms in a hearing Thursday.

MBS buying's future and what Bill Pulte's new additional role portends are among issues coming into focus, panelists and attendees at an IMN conference said.

Analysts said Bill Pulte's new additional role as spy chief will further delay GSE privatization efforts, although that could change if he formally departed.

A retrospective paper on the former Federal Reserve chair's tenure offers takeaways that speak directly to his successor's policy agenda.

Federal Reserve Vice Chair for Supervision Michelle Bowman said Friday that she believes price growth is still heading toward the central bank's 2% target when factoring out one-time shocks such as tariffs and elevated oil prices.

A report from the Financial Stability Board said limited transparency in the private credit market makes it difficult for regulators to monitor and understand risks, potentially masking challenges to the financial system.

The Federal Reserve Board governor is the latest Fed official to embrace the prospect of tighter monetary policy in response to rapidly rising prices that have taken hold in recent years.