The Week Ahead—Feb. 22, 2021
Good morning! It’s one month until spring—hang in there, Texas. Compared to recent events here in Washington, this week promises to be somewhat quieter.
Or perhaps not: Federal Reserve Chairman Jerome Powell comes to Capitol Hill this week to deliver the Semiannual Monetary Policy Report to Congress. Powell appears remotely before the Senate Banking Committee on Tuesday, Feb. 23. The hearing begins at 10:00 a.m. ET and can be accessed online here.
Powell then (virtually) crosses the Capitol Building to appear before the House Financial Services Committee on Wednesday, Feb. 24. The hearing begins at 10:00 a.m. ET and can be accessed online here.
Back in the Senate, the Banking Committee holds a remote hearing on Thursday, Feb. 25 on The Coronavirus Crisis: Next Steps for Rebuilding Main Street. Tentatively scheduled to testify: Joe DeLoss, Founder & CEO of Hot Chicken Takeover in Columbus, Ohio; and Jessica Milano of the Small Business Majority. The hearing begins at 9:30 a.m. ET and can be accessed online here.
Also of interest this week, the House Financial Services Subcommittee on Oversight and Investigations holds a virtual hearing on Wednesday, Feb. 24 on How Invidious Discrimination Works and Hurts: An Examination of Lending Discrimination and its Long-Term Economic Impacts on Borrowers of Color. The hearing begins at 3:00 p.m. ET and can be accessed online here.
The Senate Judiciary Committee holds a hearing this morning (Monday, Feb. 22) to consider Merrick Garland’s nomination as Attorney General. The hearing begins at 9:30 a.m. ET in Senate Hart Building Room 216 and can be accessed online here, as well as on C-SPAN. The hearing continues on Tuesday, Feb. 23.
The Senate Finance Committee holds a hearing on Tuesday, Feb. 23 to consider Adewale Adeyemo’s nomination at Treasury Deputy Secretary. The hearing takes place at 10:00 a.m. ET in 219 Dirksen Senate Office Building and can be accessed online here. The hearing continues on Tuesday, Feb. 23.
The Mortgage Bankers Association releases its weekly Forbearance and Call Volume Survey today (Feb. 23) at 4:00 p.m. ET.; On Wed. Feb. 17, MBA releases its Weekly Applications Survey.
Here are this week’s economic events/reports of interest:
Monday, Feb. 22: MBA Weekly Forbearance & Call Volume Survey; Chicago Fed National Activity Index; Dallas Fed Manufacturing Survey
Tuesday, Feb. 23: S&P CoreLogic Case-Shiller Home Price Indices; Consumer Confidence; Philadelphia Fed Non-Manufacturing Survey; Richmond Fed Survey
Wednesday, Feb. 24: MBA Weekly Applications Survey; New Residential Sales
Thursday, Feb. 25: Gross Domestic Product (2nd release); Pending Home Sales Index; Initial Claims; Advance Durable Goods
Friday, Feb. 26: Personal Income/PCE Deflator; U. of Michigan Consumer Surveys (final)
For information about upcoming MBA conferences, click here. Launched this spring, MBA LIVE brings you dynamic keynotes and informative panel discussions you’ve come to rely on from MBA. We’ll be adding even more opportunities to engage with speakers, industry colleagues, and the many vendors and service providers that help keep your business moving forward. Visit mba.org/MBALIVE for the latest information on these events.
For the latest on how the coronavirus is affecting our industry, our health and our economy, visit the MBA Coronavirus Resource Center. And you can also visit the newly created members-only online network, MBA’s COVID-19 Residential Policy Community, at https://bit.ly/2QEVpUZ. #MBAWorkingForYou #MBACOVIDUpdates
For the most up-to-date information regarding legislative activity at the state and local level, visit the MBA State Legislative Database here.
For information about MBA Education events, visit http://www.mbaeducation.org.
For information about the National Association of Minority Mortgage Bankers of America (NAMMBA), visit https://www.nammba.org/. If your company/association is an MBA member, we are happy to list conferences/events on the MBA NewsLink Upcoming Meetings/Events Calendar. Send your items to Mike Sorohan, editor, at msorohan@mba.org; or Michael Tucker, Editorial Manager, at mtucker@mba.org.
