96
<!–
*{box-sizing:border-box}body{margin:0;padding:0}a[x-apple-data-detectors]{color:inherit!important;text-decoration:inherit!important}#MessageViewBody a{color:inherit;text-decoration:none}p{line-height:inherit}.desktop_hide,.desktop_hide table{mso-hide:all;display:none;max-height:0;overflow:hidden}.image_block img+div{display:none}sub,sup{font-size:75%;line-height:0}#converted-body .list_block ol,#converted-body .list_block ul,.body [class~=x_list_block] ol,.body [class~=x_list_block] ul,u+.body .list_block ol,u+.body .list_block ul{padding-left:20px} @media (max-width:620px){.desktop_hide table.icons-outer{display:inline-table!important}.image_block div.fullWidth{max-width:100%!important}.mobile_hide{display:none}.row-content{width:100%!important}.stack .column{width:100%;display:block}.mobile_hide{min-height:0;max-height:0;max-width:0;overflow:hidden;font-size:0}.desktop_hide,.desktop_hide table{display:table!important;max-height:none!important}.reverse{display:table;width:100%}.reverse .column.first{display:table-footer-group!important}.reverse .column.last{display:table-header-group!important}.row-10 td.column.first .border,.row-8 td.column.first .border{padding:5px 5px 15px 25px}.row-10 td.column.last .border,.row-12 td.column.last .border,.row-8 td.column.last .border{padding:5px 20px 25px 5px}.row-12 td.column.first .border{padding:5px 5px 15px 25px;border-bottom:15px solid transparent}}
sup, sub { font-size: 100% !important; } sup { mso-text-raise:10% } sub { mso-text-raise:-10% }
{beacon}
Business & Economy
<!–
|
|
|
Bill Pulte’s war against Powell ramps up
|
The overseer of Fannie Mae and Freddie Mac is waging an online battle to force out Federal Reserve Chair Jerome Powell, shattering norms along the way.
|
Over the span of 24 hours, Federal Housing Finance Agency (FHFA) Director Bill Pulte has written or shared more than a dozen posts on social media calling for Powell’s resignation and sharing the rationale for doing so.
Along the way, he’s throwing his politically independent agency into a partisan battle.
“I am calling for Federal Reserve Chairman, Jay Powell, to resign,” Pulte wrote in a Thursday post on social platform X, which he pinned to the top of his profile.
In another post in response to The Hill’s reporting, Pulte said he was doing so “[b]ecause he is hurting Americans and hurting the mortgage market, which I am responsible for regulating.”
The campaign against Powell began shortly before the Fed announced Wednesday, as was widely expected, it would keep interest rates unchanged for another month.
President Trump has raged against Powell and the Fed for not cutting interest rates by levels only seen during economic crises, even though the unemployment rate remains close to historic lows.
I’ve got more here.
|
Welcome to The Hill’s Business & Economy newsletter, I’m Sylvan Lane — covering the intersection of Wall Street and Pennsylvania Avenue.
|
|
|
Key business and economic news with implications this week and beyond:
|
|
|
DraftKings, a sports betting company, said Wednesday it filed with the Federal Election Commission (FEC) to create a corporate political action committee (PAC).
|
|
|
|
U.S. Steel said Wednesday it finalized its merger with Japan’s largest steelmaker, Nippon.
|
|
|
|
President Trump signed an executive order Thursday extending the deadline for TikTok’s parent company to divest the popular video sharing app by 90 days.
|
|
|
|
Upcoming news themes and events we’re watching:
|
- The Federal Reserve of Philadelphia releases its June manufacturing index Friday at 8:30 a.m. EDT
|
|
|
Branch out with more stories from the day:
|
|
|
WASHINGTON (AP) — President Donald Trump on Thursday signed an executive order to keep TikTok running …
|
|
|
Business and economic news we’ve flagged from other outlets:
|
- Creators say they didn’t know Google uses YouTube to train AI (CNBC)
- Zero Interest Rates Are Back in Europe (NYT)
|
|
|
Top stories on The Hill right now:
|
|
|
Michelle Obama says she’s “so glad” she never had a son — because he would’ve been a kiddie clone of her husband. Read more
|
|
Senate Majority Leader John Thune (R-S.D.) is facing strong pushback from members of the GOP conference over the Finance Committee’s piece of President Trump’s tax and spending bill, which largely ignores GOP senators’ concerns about Medicaid cuts and the quick phaseout of clean-energy … Read more
|
|
|
Opinions related to business and economic issues submitted to The Hill:
|
|
|
|
You’re all caught up. See you tomorrow!
|
|
|
|
Close
if ( window.checkSizeClasses && window.checkSizeClasses instanceof Function) {
window.checkSizeClasses();
}
