Jerome Powell is stepping down as Fed chair. Explore his tenure with our interactive timeline
Jerome Powell is set to step down this week after a particularly eventful tenure
by Jim Dalrymple II May 11
Fed patches a potential chink in armor protecting its independence
A vote to reappoint 11 of the Fed's 12 regional bank presidents puts an end to speculation that the Trump administration might try to unseat inflation hawks opposed to interest rate cuts
by Matt Carter Dec 11
These are the 5 people who might replace Jerome Powell as Fed chair
Trump loyalist Kevin Hassett is seen as the most likely pick to lead the Federal Reserve Board next year. Critics say doubts about the central bank's independence could put upward pressure on rates
by Matt Carter Oct 28
Donald Trump and Jerome Powell, mortgage rates drop on Powell speech
If bond market investors get cold feet about buying government debt and mortgage-backed securities, that could push long-term interest rates higher, even if the Fed cuts short-term rates
by Matt Carter Aug 28
Mortgage rates hit 4-month low and have more room to drop
Homeowners rushed to refinance last week, and lender data shows homebuyer demand for purchase loans is up 17 percent from a year ago with Federal Reserve rate cuts on deck
by Matt Carter Aug 13
Donald Trump and Jerome Powell, mortgage rates drop on Powell speech
With job market stable and the economy chugging along, bets placed by futures market investors suggest the odds of a September rate cut have dropped to less than even
by Matt Carter Jul 30
Fed begins rate-cutting campaign with reduction in federal funds rate
Central bank policymakers drop short-term rates by 1/2 percentage point and signal more cuts ahead, but much of the impact may have already been priced in to mortgage rates
by Matt Carter Sep 18
Homebuyer mortgage demand dips, breaking 3-week streak
Mortgage rates are on the rebound despite encouraging inflation data, as Fed policymakers stick to 'higher for longer' strategy until they see more conclusive evidence economy has cooled
by Matt Carter Jul 3
Prospects for lower mortgage rates grow as inflation continues to ease
The Federal Reserve's preferred inflation gauge fell to 2.56% in May, getting closer to the Fed's 2% target for the 2nd month in a row. Core inflation reading is lowest since March 2021
by Matt Carter Jun 28
Mortgage rates are bouncing back, and homebuyers don't like it
As rates on conventional mortgages head back above 7%, homebuyer demand for purchase loans is wilting, with applications dropping for a 3rd week in a row last week, MBA survey finds
by Matt Carter May 29
Bond yields soar again on Fed governor's hawkish remarks
Fed Governor Michelle Bowman warns bankers that she thinks the Fed may need to hike rates more than once and keep them high next year to get inflation under control
by Matt Carter Oct 2
Consumer Price Index rises in July amid 1st inflation hike in 13 months
The Consumer Price Index increased 0.2% in July and rose 3.2% annually, according to data released Thursday by the Bureau of Labor Statistics that suggests inflation is still cooling
by Ben Verde Aug 10
Demand for purchase mortgages down for 3rd week in a row
As rates keep rising, requests to refinance accounted for just half of mortgage applications, down from 68% a year ago
by Matt Carter Feb 23
Mortgage rate projected to top 4% in 2022 as Fed tapering plan nears
The Fed could begin tapering as soon as November, adding momentum to market forces that have been pushing mortgage rates up in recent weeks
by Matt Carter Oct 15