The Commerce Department reports housing starts for June ran at a 1.22 million seasonally adjusted annual rate, 8.3% higher than in May and 2.1% higher for the year. Economists expected a 1.16 million annual rate. Single-family starts were 6.3% higher than in May, a sign builders are concentrating on homes to be purchased, instead of rented.
The Trump administration plans to nominate Hester Peirce to fill a vacancy as a Republican member of the Securities and Exchange Commission, according to Marketwatch. Peirce is a longtime policy expert who has frequently criticized the postcrisis regime set by Democrats for regulating Wall Street. She is a researcher at George Mason University and was nominated during the Obama administration two years ago to fill a Republican seat at the SEC. Her nomination ran into problems after Democratic senators raised objections to her as well as their own party’s choice to fill a commissioner slot reserved for Democrats. President Trump is ready to nominate her again. Her move to the SEC, which has five commissioners when it is at full strength, would make it easier for Chairman Jay Clayton to carry out an agenda focused on reducing the regulatory burden on public companies.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
