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HousingWire Daily
Logan Mohtashami: Powell’s remarks bode well for lower mortgage rates
Jul 16, 2024
Lead Analyst Logan Mohtashami discusses Powell's positive remarks on potential rate cuts, housing priorities under a second Trump administration, and the challenges of addressing housing supply to boost demand. The show explores the impact of government intervention in housing supply, the debate over GSEs and conservatorship, and the significance of keeping the GSEs in conservatorship during economic downturns.
32:57
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Quick takeaways
- Jerome Powell prioritizes labor data over inflation concerns, signaling positive shifts in labor market and mortgage spreads.
- Mark Calabria advocates for production-side solutions to address housing supply issues, critiquing current affordability proposals.
Deep dives
Jerome Powell's Focus on Labor Data and Inflation
Jerome Powell's recent discussion highlighted the importance of labor market data over inflation concerns. He emphasized the global nature of inflation issues stemming from the pandemic but expressed satisfaction with the progress in managing inflation. The focus on labor data reflects Powell's primary concern and indicates positive shifts in the labor market and mortgage spreads. The discussion also noted past misjudgments on inflation transience following the COVID-19 recovery.
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