HousingWire Daily Trump calls on Fed Governor Cook to resign
9 snips
Aug 21, 2025 
Logan Mohtashami, Lead Analyst at HousingWire, shares his insights on pressing economic issues surrounding the housing market. He discusses Trump's call for Fed Governor Lisa Cook to resign and what this means for monetary policy. The conversation shifts to housing permits as indicators of a potential recession, alongside challenges in construction jobs and the labor market. Mohtashami also explores the intersection of consumer health and federal monetary policies, unraveling the complexities of inflation and mortgage rates.
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Permits At Cycle Low Raise Risk
- Housing permits are at a cycle low and signal limited wiggle room for builders if rates rise further.
- Labor declines and low permits together increase the risk that higher rates could breach 2022 lows and worsen housing activity.
Labor Rollovers Masked By Big Projects
- Residential construction and specialty trade employment are already rolling over, which historically signals economic weakness.
- Unique factors like AI data centers are masking worse total construction trends by propping aggregate activity.
Watch The 323k Jobless Claims Threshold
- Jobless claims moving toward a 323k four-week average tends to precede recessions based on post‑WWII cycles.
- Continuing claims, manufacturing and residential job losses together would be a clear recession red flag to watch.