Politics

Federal Reserve Gov. Christopher Waller said changes to the Federal Open Market Committee's quarterly economic projections could lead to clearer communication with markets and market participants.

The Federal Reserve's preferred measure of inflation moved closer to the 2% target last month, but the impact of tariffs remains to be seen.

The Federal Reserve chair said he made no commitments on the central bank's next monetary policy adjustment, only that the decision would be made based on incoming data.

Elon Musk, formerly head of the Department of Government Efficiency, said he will officially leave the federal government after a short but tumultuous tenure. DOGE's actions at the Consumer Financial Protection Bureau are being reviewed in federal court.

President Donald Trump said that the US government would retain guarantees and an oversight role over Fannie Mae and Freddie Mac even as he pursues a public offering for the mortgage giants.

Federal Reserve Gov. Lisa Cook said in a speech Friday that the market's response to recent volatility shows resilience, but more study is needed about the financial stability implications of business relationships between banks and nonbanks.

The notion that the enterprises could be a source of revenue has led to a suggestion that the funds from a public offering could be reinvested in housing.

Bond yields are shooting up for the second time in as many months. Federal Reserve Gov. Christopher Waller attributes the volatility to concerns about rising national debt levels.

Increases in gross domestic product and home sales expectations compared with April are the drivers of Fannie Mae's latest mortgage outlook for 2025 and 2026.

The Consumer Financial Protection Bureau has withdrawn guidance that allowed states to bring enforcement actions broadly under federal consumer protection laws.