This chapter examines the viral headline about Jerome Powell warning of mortgage unavailability, clarifying that it misinterpreted his statement about insurance companies' withdrawal from high-risk markets. It also highlights the unusual timing of the news story.
Jerome Powell's statement was misinterpreted; he discussed insurance companies, not a mortgage crisis.
The news story's timing is questioned due to its reliance on a February quote.
The viral spread is linked to Powell's recent headlines and the Fed's decision not to raise rates.
Each week, Nicole breaks down the biggest headlines on Wall Street and how they're affected your wallet. Today she covers: the real and fake Fed headlines, good news on real estate and why Nippon Steal's acquisition of U.S. Steel matters.