This Fed Meeting Must Have Been an Epic Circus by Wolf Richter • Dec 10, 2025 • 164 Comments Amid 3 dissenters in both directions, FOMC cuts by 25 basis points. “Dot Plot” sees 1 cut next year, 3 members see 1 hike. Reserve management purchases of T-bills begins.
CEO of ICE on Making Mortgages “Portable” & “Assumable” in the Era of MBS, and on AI at ICE and its Impact on Hiring by Wolf Richter • Dec 10, 2025 • 36 Comments “I look at our own behavior, which is we’re kind of slow walking some of that kind of hiring now because we’re using these tools.”
Job Openings Jump by 443,000 in 2 Months: Labor Market Retightens, Fed Faces Scenario of Solid Job Market and Accelerating Inflation by Wolf Richter • Dec 9, 2025 • 63 Comments 7.67 million job openings, highest since May, 2nd highest all year, and up from a year ago.
In Edgy Bond Market, 30-Year Treasury Yield Hits 3-Month High, 10-Year Yield Hits 1-Month High, Mortgage Rates Jump by Wolf Richter • Dec 8, 2025 • 79 Comments The expected rate cut gets complicated: A dovish Fed amid rising inflation can spook the bond market.
The Fed Will Talk a lot about “Reserve Balances” and “Reserve Management Purchases” at its FOMC Meetings by Wolf Richter • Dec 8, 2025 • 59 Comments What Are They? And why now?
THANK YOU 💖 for Your Wonderful Support of WOLF STREET!!! And if You Missed the Fall Reminder: Please Donate by Wolf Richter • Dec 6, 2025 • 11 Comments Your support keeps Wolf Street open to all, not hidden behind a paywall, to reach the largest audience possible.
NAR Says Typical First-Time Homebuyer Age Was 40 in 2025, up from 33 in 2021. But Is this Accurate? by Wolf Richter • Dec 5, 2025 • 65 Comments A narrative gets debunked. The affordability crisis remains.
CMBS: “Commercial Mortgage BS” by John McNellis • Dec 5, 2025 • 36 Comments “We should have learned our lesson and sworn off CMBS forever”: McNellis, commercial real estate developer.
Fed Balance Sheet QT: -$37 Billion in November, -$2.43 Trillion from Peak, to $6.54 Trillion by Wolf Richter • Dec 4, 2025 • 61 Comments Standing Repo Facility at zero, after doing its job calming the repo market at month-end. QT ended on December 1, but in November, QT continued.
Low-Fire Low-Hire Job Market, after Massive Overhiring by Big Tech & Others in 2021 & 2022 by Wolf Richter • Dec 4, 2025 • 61 Comments But today’s initial unemployment insurance claims were a doozie that’ll reverse next week.
