The process to confirm Mark Calabria as FHFA director could be lengthy, forcing the White House to consider how it will proceed with housing finance reform under Joseph Otting as acting head of the agency.
Any serious discussion of how best to update the Community Reinvestment Act for the 21st century must focus on strengthening the law, not eliminating it.
House Republicans are ramping up their criticism of the Fed for making interest payments to member banks on excess reserves, and may have identified a way to counter claims that the payments are critical to monetary policy.
