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"I will begin today by describing the evolving role of mortgage companies in mortgage markets and the risks to financial stability that activity entails. I will then focus on developments in mortgage markets during the COVID-19 pandemic and discuss how actions by the Federal Reserve and the other parts of the government helped stabilize financial markets and prevent more severe damage to the economy. Finally, I will explain how vulnerabilities associated with mortgage companies could pose risks in the future, and I will review ongoing work across the regulatory agencies to monitor and address these vulnerabilities. I will end by enlisting your help. Figuring out how to achieve a balanced mortgage system — one that delivers the best outcomes for consumers while being sufficiently resilient — is a highly complex task that could benefit from the insights of those of you here today." more »

The gap in life expectancy between disadvantaged and privileged Americans has widened over the past half-decade, but so has the gap between the most affluent Americans and their peers in other prosperous nations, according to a new UC Berkeley study. In 2018, men in the most affluent US category could expect to live at least seven years longer than those in the most disadvantaged US group (80.5 vs. 73.2 years). For women, that gap was six years (84.9 vs. 79.9 years). more »

Jo Freeman writes: The theme was different versions of “Thank God for Donald Trump.” He could do no wrong, including lose the election. If the media said more people and more states voted for Biden, then the election was being stolen. It was photogenic. Flags flourished. T-shirts, hats and posters were plentiful. Many people wore costumes, or turned flags into capes. Only buttons were scarce. (As a button collector, I was looking to add a Trump button to my collection). Everyone was pleasant. When I asked people to pose for a photo, I only got two negative responses – one from a man in a Chicago Proud Boys t-shirt, and another from a woman wearing a Biden-Harris cap who was waving at the marchers from the sidewalk of Pennsylvania Ave.   more »

Ferida Wolff writes: During this pandemic we are often, understandably, lost in negative, worrisome thoughts. But there are positive things to focus on: neighbors greeting neighbors with smiles and friendly though distant conversations, gratitude for the dedication of our health practitioners, conscious appreciation of the people in our lives. more »