Welcome back to The Shivers Report.

In a move that shocked a lot of people, President Donald Trump nominated Kevin Warsh—arguably one of the more hawkish and independent voices tied to the Federal Reserve. A pick that seems, on the surface, opposite of what Trump has been signaling for months.

So what’s the strategy? And more importantly… what does it mean for real estate?

In this episode, Nick and Keegan break down:
• Why Kevin Warsh’s history of opposing bailouts makes him a surprising choice
• Whether back-channel conversations shaped this nomination
• The long-standing debate over Federal Reserve independence
• Why excessive government intervention can create long-term instability
• How chaos and headline volatility are affecting mortgage rates right now
• Why the housing market dislikes destabilization even more than high rates
• Whether this pick could lead to a more stable, less volatile market

Nick shares why he believes less intervention often leads to healthier long-term markets—and why volatility, not just rates, is today’s biggest concern.

Bottom line: the housing market thrives on stability. If this nomination leads to steadier policy and fewer dramatic swings, it could calm one of the most unpredictable real estate environments in decades.

Is this a strategic move toward stability—or just another headline in a volatile year?

Let’s break it down.