Politics

In his speech at the Federal Reserve's Jackson Hole Economic Symposium, the Fed chair said employment losses are now a bigger risk than elevated inflation.

Mortgage professionals interviewed say there should be more focus on increasing housing supply.

Vice President Kamala Harris outlined a raft of populist economic proposals in her first major economic speech since securing the Democratic presidential nomination, including some aimed at lowering housing costs and boosting supply.

The change in medical debt reporting initiated by the three credit bureaus did not go far enough as 15 million Americans are still impacted, the groups led by the National Consumer Law Center said.

Democrats Ritchie Torres and Gregory Meeks called on the New York Home Loan bank to follow the lead of its peers and use alternative credit scoring models for collateral to improve consumers' access to homeownership.

The Federal Housing Finance Agency wants to update the dual mission of the Federal Home Loan Banks. Members of the private bank cooperative say their regulator has no authority to redefine the mission.

Vice President Harris' surprise elevation to the top of the Democratic ticket and the ascent of Ohio Sen. J.D. Vance to be the Republican vice presidential pick brings renewed vigor to each party's economic vision.

Investors are set to start the week scrambling to decide if President Joe Biden's decision to end his reelection campaign and endorse Vice President Kamala Harris increases or decreases Donald Trump's chances of regaining power. 

Hugh Frater was one of four appointed to the Bipartisan Policy Center board, along with former Philadelphia Mayor Michael Nutter, a co-chair of its Housing Council.

The guidance is largely unchanged from what the agencies proposed last year. It directs institutions to craft policies that consider a wide array of potential shortcomings.