Cuts Take Effect

The most likely near-term path is that Bill Pulte and FHFA management proceed with the watchdog reductions while litigation and congressional oversight move slowly. The Office of Inspector General retains a skeletal staff, limiting audits of Fannie Mae, Freddie Mac and FHFA contracting decisions.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.