Kevin Warsh was sworn in as Federal Reserve Chair in May, and his first FOMC meeting in June signaled a deliberate break from his predecessors: reduced forward guidance, a shorter post-meeting statement, and the formation of five task forces to review everything from Fed communications to how the central bank collects economic data. The changes have drawn close attention from the mortgage industry, where every signal from the Fed carries direct implications for rate direction and market volatility. 

PBG’s Marty Green spoke with the media about what the shift means for the mortgage market, from the near-term rate outlook to the longer-term question of how a less predictable Fed affects borrowing costs. 

“A more nimble Fed is actually essential to the central bank really fulfilling its role,” Green said. “If you think about the speed of those kinds of changes that we’re probably going to experience in the next several years, getting the Fed better situated to deal with that is truly timely and appropriate.”  

Marty’s commentary can be found in the following outlets: 

• Scotsman Guide: ‘A new sheriff in town’: Warsh lays out sweeping reforms in first act as Fed chair 

• HousingWire: As markets get fewer Fed clues, mortgage rates could get choppier 

• Mortgage Professional America: How Warsh’s ‘more nimble’ Fed could deliver what brokers have been waiting for 

• Mortgage Professional America: Why the Fed’s balance sheet may matter more to mortgage rates than the dot plot 

• Law360 Real Estate Authority: Warsh Debut Heralds Change For Fed, Not Rates