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resident Donald Trump's 90-day tariff pause is set to end in early July, but negotiations may continue beyond that deadline. Treasury Secretary Scott Bessent suggests talks could wrap up by Labor Day if current trends hold. The president has renewed criticism of Federal Reserve Chair Jerome Powell, who defended the central bank's decision to keep interest rates unchanged.

    Powell's leadership has been a point of contention for Trump and others in Washington. FHFA Director Bill Pulte echoed earlier calls for Powell's resignation, saying he is "keeping these rates high for no reason." Meanwhile, new data shows inflation rose 2.3% in May, higher than expected.

    The Federal Housing Finance Agency (FHFA) has ordered government-sponsored enterprises Fannie Mae and Freddie Mac to consider accepting cryptocurrency as an asset for mortgages. This policy shift could significantly impact the mortgage industry if approved.

    In other news, the Department of Housing and Urban Development (HUD) is moving its headquarters out of the Robert C. Weaver building in Washington D.C. The agency will take over a former National Science Foundation building in Alexandria, Virginia, saving taxpayers millions of dollars in renovation costs.

    Congressional Democrats have reintroduced the Downpayment Toward Equity Act, which aims to help first-time homebuyers with $100 billion in assistance. The bill seeks to address barriers to homeownership faced by families of color and first-generation buyers.

    The president has also signaled he is considering a new Fed chair when Powell's term ends in 2026, saying he knows "within three or four people" who will be his choice for the position.