New Delhi, June 30 -- The Federal Reserve under new Chairman Kevin Warsh is in no rush to lower interest rates, but a multiyear effort by President Donald Trump's administration might have the effect of pushing down mortgage rates for many Americans anyway.

Last week, Trump downplayed a bipartisan affordable housing bill that he delayed signing, arguing that its importance paled in comparison to that of interest rates.

Speaker of the House Mike Johnson said the House of Representatives would likely send the bill to Trump's desk on Monday, starting a 10-day clock for Trump to approve or veto the legislation before it becomes law without his signature. The bill, called the 21st Century Road to Housing Act, would likely have only a modest ...