The Week Ahead, Mar. 6, 2023: Mssrs. Powell, Chopra Visit Capitol Hill
Good morning and happy Monday. It’s a busy week in Washington, with Federal Reserve Chairman Jerome Powell and Consumer Financial Protection Bureau Director Rohit Chopra scheduled to testify before Congress. But first, here’s what else is happening this week:
MBA Mid-Winter Conference and mPact Summit. The MBA Mid-Winter Housing Finance Conference is underway in Avon, Colo., running through Wednesday, Mar. 8 For more information, click here.
Also happening this week, the mPact Summit takes place Tuesday, Mar. 7 in Plano, Texas. For more information, click here.
MBA Reports. On Wednesday, Mar. 8, MBA releases its Weekly Mortgage Applications Survey, with commentary and analysis from MBA Vice President and Deputy Chief Economist Joel Kan.
And on Thursday, Mar. 9, MBA releases its monthly Mortgage Credit Availability Index, with Kan again providing commentary and analysis.
And if you haven’t yet checked out the MBA State of the Association, featuring a look back at key issues affecting the real estate finance industry in 2022 and the economic and policy outlook for 2023, please do so by clicking the link above.
Other Economic Reports. The first full week means four major jobs reports, culminating on Friday with the Bureau o Labor Statistics’ monthly Employment Report. MBA Chief Economist Mike Fratantoni will provide commentary and analysis in next Monday’s MBA NewsLink.
Here are this week’s other reports; those MBA NewsLink will cover are in italics:
—Monday: Manufacturing, Shipments and Orders
—Tuesday: CoreLogic Home Price Index; Wholesale Trade
—Wednesday: MBA Weekly Applications Survey; ADP National Employment Report; JOLTS (Job Openings & Labor Turnover Survey); Trade Balance
—Thursday: Initial Claims
—Friday: Employment Situation
Congress. The House and Senate are in session this week; House and Senate committees kick into high gear.
The work starts in earnest on Tuesday, Mar. 7, when Powell visits the Senate Banking Committee to deliver the Federal Reserve’s Semiannual Monetary Policy Report to the Congress. The hearing begins at 10:00 a.m. ET in Hart Senate Office Building room 216 and can be accessed online here.
On Wednesday, Mar. 8, Powell repeats the process before the House Financial Services Committee. That hearing begins at 10:00 a.m. ET in 2128 Rayburn House Office Building and can be accessed online here.
On Thursday, Mar. 9, Chopra visits the House Financial Services Subcommittee on Financial Institutions and Monetary Policy for a hearing on Consumer Financial Protection Bureau: Ripe for Reform. The hearing begins at 10:00 a.m. ET in 2220 Rayburn and can be accessed online here.
Back on the Senate side, on Tuesday, Mar. 7, The Senate Banking Committee holds a hearing on The Federal Debt Limit and its Economic and Financial Consequences.
Slated to testify: Mark Zandi, Chief Economist, Moody’s Analytics; Anat Weisenfreund, Director of Head Start and Early Learning Programs at Community Action Pioneer Valley; Douglas Holtz-Eakin, President, American Action Forum; Michael R. Strain, Director of Economic Policy Studies and Arthur F. Burns Scholar in Political Economy, American Enterprise Institute; and Amy K. Matsui, Senior Counsel and Director of Income Security, National Women’s Law Center.
The hearing begins at 10:00 a.m. ET in Dirksen Senate Office Building room 538 and can be accessed online here.
On Wednesday, Mar. 8, the Senate Banking Subcommittee on Housing, Transportation, and Community Development holds a hearing on The Federal Strategic Plan to Prevent and End Homelessness. Scheduled to testify: Jeff Olivet, Executive Director, U.S. Interagency Council on Homelessness; and Richard Cho, Senior Advisor for Housing and Services, U.S. Department of Housing and Urban Development. The hearing begins at 2:30 p.m. in 538 Dirksen and can be accessed online here.
Back on the House side, on Wednesday, Mar. 8, the Financial Services Subcommittee on Oversight and Investigations holds a hearing on Holding the Biden Administration Accountable for Wasteful Spending and Regulatory Overreach. The hearing begins at 2:00 p.m. ET in 2128 Rayburn and can be accessed online here.
On Thursday, Mar. 9 the Financial Services Subcommittee on Capital Markets holds a hearing on U.S. Public Markets Built for the 21st Century: Exploring Reforms to Make Our Public Markets Attractive for Small and Emerging Companies Raising Capital. The hearing begins at 10:00 a.m. ET in 2128 Rayburn and can be accessed online here.
Also on Thursday, Mar. 9, the Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion holds a hearing on Coincidence or Coordinated? The Administration’s Attack on the Digital Asset Ecosystem. The hearing begins at 2:00 p.m. ET in 2128 Rayburn and can be accessed online here.
For more information about the House and Senate, visit www.house.gov and www.senate.gov, respectively. For more information about upcoming hearings in the Senate Banking Committee, click https://www.banking.senate.gov/hearings. For more information about upcoming hearings in the House Financial Services Committee, click https://financialservices.house.gov/calendar/?EventTypeID=577&Congress=117.
And finally, MBA Conferences. Here’s a list of upcoming MBA conferences:
Apr. 17-18: MBA State & Local Workshop, Washington, D.C. For more information, click here.
Apr. 18-19: MBA National Advocacy Conference, Washington, D.C. Fore more information, click here.
Apr. 26-27: MBA Commercial/Multifamily Human Resources Roundtable 2023. For more information, click here.
May 7-10: MBA Legal Issues & Regulatory Compliance Conference, Austin, Texas. For more information, click here.
May 9-12: MBA Commercial/Multifamily Housing Servicing and Technology Conference, Chicago. For more information, click here.
May 21-24: MBA Secondary and Capital Markets Conference & Expo, New York. For more information, click here.
June 4-7: MBA Chairman’s Conference, Manalapan, Fla. For more information, click here.
June 5-8: MISMO Spring Summit, Portland, Ore. For more information, click here.
Sept. 10-12: MBA Regulatory Compliance Conference, Washington, D.C. For more information, click here.
Sept. 11-13: MBA Risk Management, QA and Fraud Prevention Forum, Phoenix. For more information, click here.
Oct. 14: mPowering You: MBA’s Summit For Women in Real Estate Finance, Philadelphia. For more information, click here.
Oct. 15-18: MBA Annual Convention & Expo, Philadelphia. For more information, click here.
For more information, click the links above or visit https://www.mba.org/conferences-and-education/conferences-and-meetings.
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/.
Enjoy the week!
