Analysis: Trump's "Housing Authority" director's post affects the market
According to online reports, the stock market fluctuated violently as Bill Pulte, Director of the U.S. Federal Housing Finance Agency (FHFA), expressed his views on topics ranging from credit score pricing, cryptocurrencies as collateral assets, and even whether Federal Reserve Chairman Powell's job could be preserved. His online remarks sometimes begin with obscure introductions, and even pulled down the S & P 500 index at one point on Friday. His market clout "made an otherwise unknown government official suddenly the subject of business news," said Steve Sosnick, chief strategist at Interactive Brokers.
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