U.S. Treasury Secretary Jacob J. Lew will meet tonight with Wall Street executives after convening several economists earlier this week to discuss challenges facing the labor market including long-term unemployment.
Edward J. DeMarco, who has served as acting director of the Federal Housing Finance Agency since 2009, gave a Senate panel an update today on the FHFA’s oversight of Fannie Mae and Freddie Mac. It’s unclear how much longer he’ll be guiding those efforts.
Employers in March added the fewest workers in nine months and the jobless rate fell to a four-year low as the share of Americans in the labor force slumped, marking a pause in the job-market recovery.
Jason Schmitt lost his $90,000-a- year job at an oil rig in 2009. The bank repossessed his Tulsa, Oklahoma home and the former Army combat engineer went bankrupt. Last month, after moving with his family to his Missouri hometown, he got a Veterans Administration mortgage that lets borrowers buy property just two years after a foreclosure.