What Happens if Trump Fires Jerome Powell?

I hope all our readers who celebrate Easter had a wonderful weekend.

After weeks of market chaos, things finally calmed down a bit. Investors had time to process the full impact of the Trump administration’s tariffs. And while trade tensions with China are still very much in the air, the dust has settled just enough to give mortgage rates a little breathing room.

Let’s dive in!

We are posting regular content to Instagram (Nick | Kreg) and Facebook (Nick | Kreg) to help you and your buyers stay informed. Be sure to follow us!

Read time: ~5 minutes

Rates ended DOWN compared to last week, and volatility was HIGH. Rates are in the high 6% range for most loan types without paying discount points. Paying discount points can get you in the mid 6's.

What Happens if Trump Fires Jerome Powell?

Think Montagues vs. Capulets. Hatfields vs. McCoys. Bugs Bunny vs. Elmer Fudd. Now add Trump vs. Jerome Powell to the list of iconic feuds—this one just happens to impact your wallet.

Trump wants to remove Powell, like, yesterday, for refusing to drop interest rates. Meanwhile, Powell is standing his ground refusing to pivot until things play out economically. This past week, Powell spoke publicly at the Economic Club of Chicago. He discussed Trump’s recent policy changes and how he expects them to lead to higher inflation and slower growth…ahem…stagflation.

But can Trump fire Powell?

Not really. But the president has already booted a couple FTC commissioners and says he’s “interviewing replacements” for Powell even though Jay’s term runs through May 2026.

Additionally, there is an emergency petition from the president in the hands of the Supreme Court to back his decision to fire the chairs of two other independent agencies — the National Labor Relations Board and the Merit Systems Protection Board. If the high court supports Trump’s decision, Powell’s job would be less secure.

If Trump does replace Powell, expect someone who slams that rate cut button hard and fast.

What does that mean for YOU and your clients?

• Savings accounts & CDs? Expect lower returns fast. (Unless it’s a locked-in CD—those are safe.)

• Mortgage rates? In theory, deep Fed cuts could bring them down… but don’t bank on it.

Remember: mortgage rates don’t follow the Fed like a puppy on a leash. They’re tied to a wild mix of influences like inflation, bond demand, employment data, and that ever-important 10-year Treasury yield.

Need proof? Just look back at late 2024—the Fed slashed rates by 100bps… and mortgage rates jumped 📈

BNPL is Coming for Your Credit Report 🧾💳

Coachella 2025 is a wrap. The music was 🔥, the fashion was a vibe and the art was over-the-top. But the crazy part is that most of the attendees haven’t even started to make payments on their tickets yet. According to the data, almost 60% of general admission tickets for the festival were bought leveraging Buy Now, Pay Later (BNPL) platforms to spread the payments over many months.

Relying too much on BNPL can backfire - fast. If life throws a curveball (like a job loss or emergency), those stacked payments add up quick. The CFPB is waving red flags: hidden fees, late charges, and potential credit score hits if you miss a beat.

Starting April 1, 2025, Affirm began reporting its short-term, interest-free installment loans to Experian. While these loans won't immediately impact traditional credit scores, they might in the future as new scoring models emerge.

This move aims to provide a more accurate picture of consumers' financial health, especially as BNPL usage has surged among those under 44. Other companies, like DoorDash, are integrating BNPL options into their services. TransUnion is also collecting BNPL data, planning to make it available to consumers and lenders soon.

As BNPL becomes more prevalent, it's essential to stay informed about how these changes might affect you and your client’s credit profile.

Ohio Sues UWM: What Every Agent Needs to Know

Dave Yost, Ohio’s AG, just filed a heavyweight lawsuit against United Wholesale Mortgage (UWM), accusing them of playing dirty in the wholesale lending world.

The claim? That UWM ran a “deliberate scheme” to push thousands of Ohio borrowers into overpriced loans—with inflated fees and higher interest rates—while using mortgage brokers as the delivery system. According to Yost, this whole setup undermines the very foundation of the wholesale model: giving clients choice.

📊 And the numbers raise eyebrows:

• 50 brokers in Ohio sent 99% of their 2023 business to UWM.

• Half of all UWM loans last year came from brokers who sent 75% or more of their volume to them.

Let’s rewind to 2021—UWM told brokers they had to pick a side: either stick with UWM or get cut off if they also worked with Rocket Mortgage or Fairway Independent. Since then, they’ve sweetened the pot for loyalty—think faster underwriting, marketing perks, and volume-based bonuses.

Now look, Kreg and I don’t have firsthand experience working with UWM, and we’re not here to sling mud. In fact, most brokers we know do right by their clients—offering multiple options, fair rates, and killer service.

And honestly, we get it: when a lender makes your job easier with tech, turn times, and consistent execution, it’s hard not to go back to the well. But that’s only cool if it still pencils out for the borrower.

Are there some shady players out there? Probably. But you could say that about any industry. The key is staying transparent, asking the right questions, and always putting the client first.

Instagram to Instacash - Leveraging Hyperlocal Content

Join our good friend Tommy Choi with his special guest Brandon Blankenship, 30 Under 30 National Realtor and solo agent powerhouse, as he shares how he turned Instagram into a lead machine—growing from 0 to 70,000 followers and doubling his production to $26M last year using hyper-local content.

🎤 In this PUBLIC Masterclass session, Brandon will share:
 ✅ How to turn Instagram into a consistent lead source
 ✅ The exact content strategy that skyrocketed his following and business
 ✅ How to create hyper-local content that connects and converts
 ✅ Real-life examples of posts that brought in deals

If you're ready to go from Instagram to Instacash, you don’t want to miss this. Let’s get social—and profitable. 💰📲

Instagram Reels from the Week

Two Ways We Can Help

1. Let’s collaborate – schedule a zoom meeting

2. Tough deal?  Let us help!

Don’t hesitate to reach out if you need anything at all. Have a wonderful week!