“My boss pulled up in his brand-new BMW today and I couldn’t help but admire it. “Nice car,” I said as he got out. “Well,” he said, noticing my admiring looks, “Work hard, put the hours in, and I’ll have an even better one next year.” A relationship with one’s boss is an interesting thing. Thank you to Ken S. who passed along, “Can Trump fire Fed chair Jerome Powell?” (Probably not without the Supreme Court.) The U.S. economy could slow unless interest rates are lowered immediately, President Trump said yesterday, repeating his criticism of Federal Reserve Chair Jerome Powell, who says rates should not be lowered until it is clearer Trump’s tariff plans won’t lead to a persistent surge in inflation. “With these costs trending so nicely downward, just what I predicted they would do, there can almost be no inflation, but there can be a SLOWING of the economy unless Mr. Too Late, a major loser, lowers interest rates, NOW,” Trump said in a post on Truth Social. The economy is only one part of the Trump Administration changes, and Attorney Brian Levy’s latest Mortgage Musings is out, loaded with explanations about the CFPB whipsawing and some scary prospects for the GSEs. He also discusses the shadowy new unregulated world of fast-food financing. (Today’s podcast can be found here and this week is sponsored by nCino, makers of the nCino Mortgage Suite for the modern mortgage lender. nCino Mortgage Suite’s core products unite the people, systems, and stages of the mortgage process. Hear an interview with Polunsky Beitel Green’s Peter Idziak on IMBs expanding into territory traditionally reserved for depositories and overall lender expansion into a fuller suite of products out of competitive necessity.)