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annie Mae and Freddie Mac are undergoing major changes amid a federal shutdown. On Oct. 30, the FHFA announced the layoff of 62 employees after a review of job duties revealed gaps in management. The cuts hit operations, IT and DEI teams, and followed the sudden resignation of former president Priscilla Almodova. COO Peter Akwaboah stepped in as acting CEO, with John Roscoe and Brandon Hamara named co‑presidents.

    The Trump administration still plans to take the GSEs public, but FHFA Director Bill Pulte said the IPO may be delayed until the second quarter of 2026. Earlier speculation had pointed to a 2025 launch, but Pulte noted the timing depends on the president’s decision. Critics warn that privatization could raise mortgage rates and remove the government guarantee that currently stabilizes the market.

    Meanwhile, the Federal Reserve is operating with limited data. The shutdown has halted the release of key economic reports, making it harder for the Fed to gauge the economy. In addition, ADP stopped providing payroll data to the Fed after a comment by Governor Christopher Waller in August, further obscuring labor market trends. Despite cutting short‑term rates on Oct. 29, Chair Jerome Powell cautioned against expecting another cut in December because of the data gaps.

    In Washington, the Senate has moved forward with the Fix Our Forests Act, a bipartisan bill backed by the National Association of Home Builders (NAHB). The legislation, which passed the House earlier this year, seeks to strengthen forest management to reduce wildfire risk. The NAHB argues the bill will also support the housing supply chain and affordable housing. After committee approval, the bill will be brought to the Senate floor for a full vote.