00:00I think the president every day almost at this point answers that he's not really thinking about that right now.
00:12I mean, how many press conferences this week has that question been posed to the president?
00:16But the reporting has been that the administration was reviewing it, looking at his legal options.
00:19You know, I think he's a builder. He cares about the cost. The costs have gotten out of control.
00:23And then separately, you know, we run, the president runs Fannie Mae and Freddie Mac.
00:28In his first term, people were able to buy a mortgage for 3 percent.
00:32These days, after Biden's inflation and what happened with rates, now you're looking at 7 percent mortgages.
00:37So this is of great concern to the president. But I view them very differently as two different things.
00:42You can't help be a builder and be the president of the United States and see these cost overruns and not ask a bunch of questions.
00:48Is the president trying to pressure Chair Powell to lower interest rates? Is that what this is about?
00:53I mean, he stood right next to him and said, I think rates should be lower.
00:56At the same moment, you guys are there investigating the Fed. Is this a pressure campaign?
01:01Again, you can answer it the same way many different times.
01:04The president has a policy view about lower interest rates that, as Bill said, are vitally important to the country economically and for the pocketbooks of the American people.
01:15And he is a builder that looks at largesse and just automatically starts to think about how what he would do in that situation.
01:23I think the Fed learned a lot today based on those conversations.
01:26We certainly learned a lot and it's going to inform the questions that we're going to continue to ask to get to the body.
