The Big Story 

President Trump has vowed the government would keep its guarantees behind mortgage giants Fannie Mae and Freddie Mac amid a push to take the two public.

© The Associated Press

“Our great Mortgage Agencies, Fannie Mae and Freddie Mac, provide a vital service to our Nation by helping hardworking Americans reach the American Dream — Home Ownership,” Trump posted Tuesday evening on Truth Social.

“I am working on TAKING THESE AMAZING COMPANIES PUBLIC, but I want to be clear, the U.S. Government will keep its implicit GUARANTEES, and I will stay strong in my position on overseeing them as President,” Trump added.

Trump last week posted on social media that he was giving “very serious consideration” to release both companies from government conservatorship.

The two are publicly traded, government-sponsored companies. They have been controlled by the government since the 2008 financial crisis.

Privatizing them again could rattle financial markets and the mortgage market, though advocates have argued it would spur competition and help the government’s budget.

The Hill’s Brett Samuels has more here.

Welcome to The Hill’s Business & Economy newsletter, I’m Aris Folley — covering the intersection of Wall Street and Pennsylvania Avenue.

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Essential Reads 

Key business and economic news with implications this week and beyond:

Fed minutes show rising unemployment, stagflationary risks

Nvidia beats expectations with strong quarterly earnings despite export controls

Trump responds to TACO trade criticisms: ‘You call that chickening out?’

White House to send DOGE cuts package to Congress as Speaker promises quick action

Tax Watch 

Trump’s ‘big, beautiful bill’ pits Senate GOP moderates against conservatives

Senate Republicans are deeply divided over President Trump’s “big, beautiful bill,” which the House passed by a single vote last week, setting up a battle in the upper chamber between moderates and conservatives that is likely to drag on well into July.

GOP senators are vowing to rewrite the bill, but they’re still weeks away from putting together a package that can muster the 51 votes it needs to pass, according to GOP senators and aides.

Centrist GOP Sens. Susan Collins (Maine), Lisa Murkowski (Alaska) and Thom Tillis (N.C.) are facing off against conservatives such as Sens. Ron Johnson (Wis.), Rick Scott (Fla.) and Mike Lee (Utah) over potential cuts to Medicaid, the phaseout of renewable energy incentives and other deficit-reduction measures that conservatives say don’t go far enough.  

The Medicaid cuts also divide conservatives, with Sen. Josh Hawley (R-Mo.) warning they could be bad policy and politically suicidal.

It has all left observers skeptical the debate in the Senate will end in June.

— Alexander Bolton has more here.

Tax Watch is a regular feature focused on the fight over tax reform and extending the 2017 Trump tax cuts this year. Email a tip

The Ticker 

Upcoming news themes and events we’re watching:

In Other News 

Branch out with more stories from the day:

Elon Musk criticizes Trump’s ‘big beautiful bill,’ a fracture in a key relationship

WASHINGTON (AP) — Elon Musk is criticizing the centerpiece of President Donald Trump’s legislative …

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Good to Know 

Business and economic news we’ve flagged from other outlets:

What Others are Reading 

Top stories on The Hill right now:

Trump pardons former GOP Rep. Michael Grimm amid clemency spree

President Trump on Wednesday took a slew of clemency actions, including pardoning former Rep. Michael Grimm (R-N.Y.) and commuting the sentence of a former Chicago gang leader. Read more

Morning Report — Trump expands list of targets for his ire

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What People Think 

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