News and Issues

"I will begin today by describing the evolving role of mortgage companies in mortgage markets and the risks to financial stability that activity entails. I will then focus on developments in mortgage markets during the COVID-19 pandemic and discuss how actions by the Federal Reserve and the other parts of the government helped stabilize financial markets and prevent more severe damage to the economy. Finally, I will explain how vulnerabilities associated with mortgage companies could pose risks in the future, and I will review ongoing work across the regulatory agencies to monitor and address these vulnerabilities. I will end by enlisting your help. Figuring out how to achieve a balanced mortgage system — one that delivers the best outcomes for consumers while being sufficiently resilient — is a highly complex task that could benefit from the insights of those of you here today." more »

The gap in life expectancy between disadvantaged and privileged Americans has widened over the past half-decade, but so has the gap between the most affluent Americans and their peers in other prosperous nations, according to a new UC Berkeley study. In 2018, men in the most affluent US category could expect to live at least seven years longer than those in the most disadvantaged US group (80.5 vs. 73.2 years). For women, that gap was six years (84.9 vs. 79.9 years). more »

Jo Freeman writes: The theme was different versions of “Thank God for Donald Trump.” He could do no wrong, including lose the election. If the media said more people and more states voted for Biden, then the election was being stolen. It was photogenic. Flags flourished. T-shirts, hats and posters were plentiful. Many people wore costumes, or turned flags into capes. Only buttons were scarce. (As a button collector, I was looking to add a Trump button to my collection). Everyone was pleasant. When I asked people to pose for a photo, I only got two negative responses – one from a man in a Chicago Proud Boys t-shirt, and another from a woman wearing a Biden-Harris cap who was waving at the marchers from the sidewalk of Pennsylvania Ave.   more »

Jo Freeman writes: As I passed McPherson Sq., one of the two Occupy DC hotspots in 2011-12, I saw several white tents and a stage. Days later I learned that these were put up by Bond Events, a female-owned event production company hired by the People’s Watch Party. PWP is a new coalition of 20 progressive groups which came together to produce an election day party on Black Lives Matter Plaza. The Plaza covers two blocks of 16th St. north of Lafayette Square that were turned into a pedestrian mall in response to the June protests. The DC government painted Black Lives Matter in 35 foot yellow capital letters from K to H Streets and DC’s Mayor officially renamed it on June 5. It has become the protest center of the Capitol. more »