‘If not now, when?’ Fed’s Powell on GSE reform

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Fed’s Jerome Powell calls for housing finance reform.. A senior federal reserve official has warned the US faces a "now or never moment" when it comes to reforming its housing finance.

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Now that the tax cut is law, we expect Fed forecasters to move those estimates noticeably higher, to near 3% growth for 2018 and 2019, which should lower unemployment forecasts. In December, the median Fed forecast was that the jobless rate would reach 3.9% in the last quarter of 2018 and remain there in 2019 before heading back to 4.6% in.

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"This feels like the most significant movement in GSE or housing finance reform in the last decade," said Thomas Wade, the director of financial services policy at the American Action Forum. "A lot of what I think this debate has been missing is an articulation as to what the appropriate or desired role of government in housing should be.

‘If not now, when?’ Fed’s Powell on GSE reform Federal Reserve Board Gov. Jerome Powell stopped short of endorsing any single housing finance reform plan, but called on lawmakers to resolve what he described as the biggest unfinished business of the crisis.

U.S. stocks started out early Thursday in highly bullish mode on the heels of fed chair jerome Powell’s dovish congressional.

But analysts say policymakers’ ultimate goal is more likely a reform framework that relies on coordination from both branches of government. Remarks attributed to acting Federal. its GSE plan as a.

The Federal Reserve is not charged with designing or evaluating proposals for housing finance reform. But we are responsible for regulating and supervising banking institutions to ensure their safety and soundness, and more broadly for the stability of the financial system.

Laying out principles for a GSE reform plan, Powell said the mortgage giants should not be "too big to fail," and called for steps to ensure that they could be resolved safely. This can be done in a number of ways, he said, including by encouraging private capital to absorb losses, but he added that there should also be an explicit – rather than implicit – government guarantee of the securities that GSEs bundle.