HousingWire Daily Trump’s new economic game plan for the Fed and the economy
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Nov 20, 2025 
In this discussion, Logan Mohtashami, a lead analyst in housing and mortgage markets, shares insights into Trump's potential picks for the Fed chair. He explains how these choices could impact mortgage rates and critiques the idea of sending out $2,000 checks. Delving into the relationship between labor data and mortgage rates, Logan emphasizes that the labor market holds more sway than Fed decisions. Additionally, he discusses the constraints of the Fed's committee structure and why sweeping rate cuts might be limited.
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White House May Pick A Loyal Fed Chair
- Trump distrusts current Fed officials and may pick a loyalist to secure dovish forward guidance.
- Logan Mohtashami suspects Kevin Hassett could be chosen to ensure predictable, pro-administration messaging.
Chair Swap Won't Deliver Deep Rate Cuts
- Replacing the chair could lower yields modestly via friendlier forward guidance but won't produce emergency-rate cuts.
- Logan says changing leadership won't automatically push mortgage rates to the very low levels Trump publicly desires.
Committee Limits Chair Power
- Fed decisions are made by committee, so a single chair cannot unilaterally force massive rate cuts.
- Even Trump-aligned governors like Stephen Meyer won't advocate emergency-level cuts without a major shock.