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

People On The Move

MAXEX Appoints John McNeill Chief Financial Officer

Former Spring Oaks Capital CFO joins digital mortgage loan exchange to lead capital strategy and support growth initiatives

MAXEX has appointed John McNeill as chief financial officer, adding a mortgage finance and capital markets veteran to its executive leadership team.McNeill will oversee MAXEX's financial strategy, including capital formation, capital deployment, financial operations, and cor...

Regulation and Compliance

MISMO Launches AI Governance Framework For Mortgage Lenders

New FRAME toolkit gives lenders, servicers, and technology providers a roadmap for managing AI risk while supporting innovation

As artificial intelligence moves deeper into mortgage operations, MISMO has released a new industry framework designed to help lenders, servicers, and technology providers establish governance around AI use before regulators do it for them.The real estate finance industry's ...

Sep

Dallas, TX

More from

Regulation and Compliance

MISMO Launches AI Governance Framework For Mortgage Lenders

New FRAME toolkit gives lenders, servicers, and technology providers a roadmap for managing AI risk while supporting innovation

Regulation and Compliance

Jun 11, 2026

CFPB Tells Lenders Immigration Status Can Factor Into ATR Analysis

CFPB frames immigration status as a potential ability-to-repay factor when future U.S.-based income is at risk

Regulation and Compliance

Jun 10, 2026

UAD 3.6 Deadline Nears; First American Earns Verification

First American's ACI Sky Workbench gains verification ahead of the Nov. 2 implementation date for the GSEs' updated appraisal reporting requirements

Regulation and Compliance

Jun 08, 2026

MISMO Introduces New Loan Boarding Standard

Wrapper Files support standardized data transfers between origination and servicing systems, with potential savings of $60 to $160 per loan

Regulation and Compliance

May 29, 2026

The GLBA Compliance Gap Your AI Deployment Just Opened

Old statutes, new models, and the vendor contract you signed before machine learning became operational

Regulation and Compliance

May 26, 2026

FHA Keeps Tri-Merge Credit Reports While Expanding Approved Scoring Models

HUD says FHA lenders will continue using three-bureau credit reports even as the agency adopts newer scoring models aimed at increasing competition and modernizing mortgage underwriting

Regulation and Compliance

May 26, 2026

Popular