Fannie Mae, Freddie Mac, conservatorship, homeownership, Joe Nocera, housing, Government Bailouts,

Yesterday, Joe Nocera penned an extraordinary column expressing his bafflement at the Trump administration’s drive to release Fannie Mae and Freddie Mac, two firms that purchase and guarantee around half of single-family mortgages in the United States, from government conservatorship. Nocera argues against such a move, writing…

consumer credit, consumer loans, financial inclusion, payday lending, student loans

On October 21, I had the pleasure to give the research keynote address at the annual conference of the Financial Services Centers of America (FiSCA) in Miami. Below are my remarks, in which I critique some policymakers' attempts to promote financial inclusion by restricting consumer choice and…

Monetary Policy, MMT, Financial Inclusion, Cato Journal, Fed

The Fall 2019 edition of the Cato Journal, the Cato Institute’s interdisciplinary journal of public policy, is now available online. Readers of Alt-M will find the articles on monetary and financial topics of special interest.  Their topics range from financial inclusion, to macroprudential policy, to Modern Monetary…

CFPB, consumer loans, financial regulation, mortgage finance mortgage, Fannie Mae

Last week was a significant one for housing finance policy, as the Consumer Financial Protection Bureau gathered input on how to reform the underwriting rules that mortgage lenders must follow. With $15 trillion of mortgage debt outstanding, this is a subject of great economic significance for the…