Andrew Ackerman

Amazing fall color in DC right now (or more specifically, last night)

Wild that WSJ gives regular news column real estate to podcast hosts who actively invest in the companies/subjects they cover, while holding full-time staff to strict ethics standards.

Mortgage rates rising the most since 2023, the last time the Fed tightened policy to counter elevated inflation

Blanche: “We're not reopening a criminal investigation.” Trump: “Total lies.”

DOJ won’t reopen its investigation of Jay Powell

A couple key footnotes in the Fed IG report: -The IG refers to the board, but he really means the Fed as an institution, not the seven governors who vote on interest rates -Outside monetary policy, governors delegate a lot to staff, including day-to-day on a huge office reno.

Not sure I follow the logic from Hassett: “...a lot of the people who weren’t appointed by Pres Trump are giving speeches over the last couple of days, saying we need a lot more hikes." That shows “there is still a lot work to do to restore Fed independence,” he argued.

TIL we send stealth F35 parts via UPS

Future market expectations for an October rate hike jumped about 10 percentage points just before 10am this morning, to above 64%, apparently on S&P reporting business activity at a 5 year high. reuters.com/business/us-busi…

This intervention seems...not to be working. At all. Spreads on MBS to Treasurys narrowed w/FHFA's initial purchases early this year but have widened significantly since then.