Author: Zach Halaschak, Washington Examiner
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DOJ drops investigation into Jerome Powell, clearing way for Trump Fed pick Kevin Warsh
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The Justice Department has dropped its criminal investigation into Federal Reserve Chairman Jerome Powell, clearing the way for President Donald Trump’s pick to replace him to be confirmed by the Senate. The DOJ announced on Friday that it was ending the inquiry. The news marks the end of a contentious period in which Sen. Thom…
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Inflation jumped to 3.3% in March as Iran war drove up oil prices
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Inflation spiked in March, rising nine-tenths of a percentage point to 3.3% on the year, as towering energy prices drove up the headline number. The Bureau of Labor Statistics reported the update to the consumer price index on Friday. The inflation reading is the highest since 2024. In March alone, prices rose 0.9%. The report…
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Trump downplays major reform bill and says housing is ‘all about interest rates’
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President Donald Trump downplayed the bipartisan housing legislation that many congressional allies hope will ease the affordability worries plaguing voters, saying instead in an exclusive Washington Examiner interview that housing is “all about interest rates.” Trump said on a phone call Thursday morning that he was focused on more important priorities than the legislation, which the Senate passed last…
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Mortgage rates rise in defiance of Trump’s $200 billion push, hurting GOP on affordability
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After months of a gradual decline, mortgage rates are trending back up because of the war with Iran, defying President Donald Trump’s efforts to lower them and undercutting Republicans on the key issue of affordability. As of Monday, the average rate on a 30-year fixed-rate mortgage has risen to nearly 6.5%, according to Mortgage News Daily, which tracks rates daily.…
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Big week ahead for major legislation to address housing affordability woes
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The Senate is pushing ahead with a bipartisan bill to improve housing affordability, teeing up a critical week for housing on Capitol Hill and raising major questions about what provisions will be included. Senate Majority Leader John Thune (R-SD) filed cloture on legislation from the House on Thursday, and the Senate will hold a vote on whether to proceed on…
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Powell will attend Supreme Court hearing on Trump power to fire Fed governor
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Federal Reserve Chairman Jerome Powell will attend oral arguments at the Supreme Court for a case in which President Donald Trump is testing the bounds of his power by attempting to fire a member of the central bank’s board of governors. Powell will attend the hearing, set for Wednesday, a source familiar with his plans…
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Inflation and affordability loom over midterm elections
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Inflation and affordability were the top considerations of voters in the 2024 elections and remain so at the end of 2025 — and they could determine the outcome of the 2026 midterm elections. The 2025 off-year elections offered a warning to Republicans, who currently control the White House, House, and Senate. Recent polling indicates that…
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New Trump Fed chair won’t mean quick drop in mortgage rates
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The high mortgage rates that have prevented many people from buying homes may not fall quickly, even if President Donald Trump succeeds in appointing a new Federal Reserve chairman who shares his desire to slash the central bank’s target rate. Trump has reportedly narrowed down the list of possible candidates for Fed Chairman Jerome Powell’s…
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Longest government shutdown in history also poised to be most costly
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The government shutdown ended this week, after 43 days, which was the longest on record and is expected to leave the biggest fiscal footprint. While exact estimates of the cost hit and the overall fiscal impact are still being quantified, it is safe to say that, due to the length of the shutdown, it will…
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Bessent promises relief on prices of coffee and bananas as tariffs bite
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Treasury Secretary Scott Bessent said trade policies for certain food products, such as coffee and bananas, will soon be changed in an effort to ease cost-of-living concerns. Bessent made the announcement on Wednesday on Fox News. However, he didn’t provide any specifics about what the changes to trade policy might be or which countries could…