Are Fannie Mae and Freddie Mac Set for an IPO?

WSJ What’s News

The Wall Street Journal

News, Daily News

4 • 4K Ratings

🗓️ 8 August 2025

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

P.M. Edition for Aug. 8. In an exclusive, we’re reporting that the Trump administration is preparing an IPO for mortgage giants Fannie Mae and Freddie Mac later this year, which it estimates could raise $30 billion. But WSJ capital markets reporter Corrie Driebusch says that key questions remain—including whether the companies will remain under government conservatorship. Plus, gold futures briefly surpassed a 45-year record before paring gains after the White House said it would clarify tariffs on gold. And nicotine is in, beer is out: What Americans’ changing vices mean for the companies behind the goods, and their stock prices. WSJ reporter Laura Cooper discusses how the companies are responding. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:18.2	The Trump administration is preparing an IPO from mortgage giants Fannie Mae and Freddie Mac.
0:23.6	Trump allies began laying the groundwork for this even before he was elected president last year.
0:30.6	This has been a goal of Trump since his last administration.
0:34.6	Plus, a day of turmoil in the gold market. And what Americans' guilty pleasures
0:39.6	mean for business. It's Friday, August 8th. I'm Alex O'Sullough for the Wall Street Journal.
0:45.8	This is the PM edition of What's News, the top headlines and business stories that move the
0:50.8	world today.
0:59.6	We're exclusively reporting that the Trump administration is preparing to sell stock in mortgage giants Fannie Mae and Freddie Mac.
1:02.1	In an offering, it believes, could raise around $30 billion.
1:05.5	The IPO would kick off later this year.
1:08.0	That's according to people familiar with the matter.
1:10.4	A small number of shares
1:11.5	of the two mortgage giants already trade on the over-the-counter market. Corey Dreebush covers
1:16.5	capital markets for the journal and joins me now. Corey, what do we know about this plan as it stands?
1:22.4	What we know is that Trump allies began laying the groundwork for this even before he was elected president
1:29.2	last year. And it would value the Fannie Mae and Freddie Mac at roughly 500 billion or more.
1:38.0	And the government would try to sell between 5% and 15% of the stock.
	...

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