White House Affirms Powell to Remain as Fed Chief

Nov 04, 2019

The Trump Administration revisited a concern from earlier in the year that the President was considering the removal of Jerome Powell as Chairman of the Federal Reserve and reconfirmed its earlier assurances that Powell will not be on the unemployment line in the near future.

According to a Reuters report, White House economic adviser Larry Kudlow told reporters at the White House that although President Trump has been disappointed with the Fed under Powell’s leadership – most recently, after last week’s rate cut that the president felt did not go far enough–no plans were underway to replace Powell, a Trump appointee.

“There is no conversation to get rid of him, whatsoever,” Kudlow said. “Monetary policy is in a much better direction now.”

Kudlow added that the central bank shifted away from its “unnecessary” and “severe tight monetary policy” of last year, which he viewed as a positive for the economy.

“The target rate is down,” he continued. “The balance sheet is expanding, the monetary base is expanding, the yield curve is upward sloping. These are positive sides. So, that huge obstacle to growth is now waning.”

About the author

Phil Hall

Link copied

Published

Nov 04, 2019

Analysis and Data

Jobs Report Comes In Weak After Mortgage Rates Surge

Employers added just 29,000 jobs in September, sending Treasury yields lower and offering a potential counterweight to the recent rise in mortgage rates

The September jobs report gave the mortgage market something it hasn't had much of lately: downward pressure on Treasury yields.U.S. employers added just 29,000 jobs in September, while the unemployment rate edged up to 4.2%, according to the Bureau of Labor Statistics. The ...

Wholesale

The Loan Store Rebrands As Averra Financial

The wholesale lender is adopting a new identity three years after acquiring Homepoint’s wholesale business and rising to No. 4 in industry rankings

The Loan Store has a new name after a three-year expansion that transformed the once-small wholesale lender into one of the largest players in the broker channel.The Tucson, Arizona-based lender has rebranded as Averra Financial Inc., effective immediately, the company annou...

Nov

Houston, TX

More from

Analysis and Data

Jobs Report Comes In Weak After Mortgage Rates Surge

Employers added just 29,000 jobs in September, sending Treasury yields lower and offering a potential counterweight to the recent rise in mortgage rates

Analysis and Data

Oct 02, 2026

Price Cuts Hit Four-Year High As Mortgage Rates Top 7%

More than one in five listings took a price cut in September, but pending sales still posted their sharpest annual decline since March 2025

Analysis and Data

Oct 01, 2026

Serious Mortgage Delinquencies Rise 19% After Five Months Of Improvement

ICE data shows 574,000 mortgages were at least 90 days past due in August, while early-stage delinquencies remained below year-ago levels

Analysis and Data

Sep 29, 2026

Smaller Down Payments Give Buyers More Room, But Rates Limit The Savings

The typical down payment fell 9% from a year ago, while shifting market conditions are giving originators different affordability conversations across the country

Analysis and Data

Sep 25, 2026

Mortgage Rates Break 7% Just As Builders Find A Way To Move Buyers

New-home sales rose 6.4% in August as builders cut prices, offered incentives, and sold more lower-priced homes. Now mortgage rates are moving against buyers again

Analysis and Data

Sep 25, 2026

Borrowers Want Digital Closings, But Some Originators Remain Hesitant

ServiceLink finds 45% of surveyed LOs cite borrower reluctance as a barrier, even though most recent buyers say digital options would influence their choice of mortgage provider

Tech

Sep 23, 2026

Popular