Stocks Rattled By FHFA Chair Comments on Fed’s Powell

Equities briefly pulled back in late trading on Friday after William Pulte, Chair of Fannie Mae and Freddie Mac, said in a social media post that he’s “encouraged by reports” that Federal Reserve Chair Jerome Powell is considering resigning, without directly referencing any specific report.

Pulte’s post comes after President Donald Trump said earlier he would not fire Powell. The pullback in stocks is at odds with expectations that any replacement for Powell would be more dovish on rates, which would support stocks.

The S&P 500 fell about 0.4% after the post, then pared losses to 0.2%. Meanwhile, bond yields ...