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Feb 10, 2015

Republicans eye bill to limit U.S. rescues of failing banks

WASHINGTON, Feb 10 (Reuters) – Republican lawmakers in the
U.S. House of Representatives and Senate are discussing a joint
effort to repeal a key section of the landmark Wall Street
reform law, seeking to limit the U.S. government’s role in
supporting financial institutions on the brink of collapse,
according to people familiar with the matter.

Efforts by Republicans to revamp the 2010 Dodd-Frank Act,
including its handling of failing banks, went nowhere in the
past because the Democrat-controlled Senate defended the law.

Feb 10, 2015

Fed’s Lacker eyes June hike, Williams says getting ‘closer’

By Michael Flaherty

RALEIGH, N.C. (Reuters) – The Federal Reserve should raise interest rates in June, a top Fed official said on Tuesday, saying the U.S. economy is strengthening and that inflation will move back to the central bank’s target.

“At this point, I think June looks like the attractive option” to raise interest rates, Richmond Fed President Jeffrey Lacker told reporters here. “The data could change that, but it would have to be surprising data for me.”

Feb 9, 2015

Fed’s Powell slams ‘misguided’ proposals for deeper Fed oversight

WASHINGTON (Reuters) – The Federal Reserve could be hamstrung in its response to any future crisis if Congress approves legislation deepening its oversight of the central bank, Fed governor Jerome Powell said on Monday.

In a strong defense of the central bank’s continued independence, Powell told a Catholic University law school audience that various proposals being debated in Congress carried more risk for the economy than proponents realize.

Feb 4, 2015

Fed’s Mester says U.S. economy on course for rate hike by June

WASHINGTON (Reuters) – The Federal Reserve should likely raise interest rates in the first half of this year to account for an economic recovery that continues to build momentum, Cleveland Federal Reserve President Loretta Mester said on Wednesday.

Mester said she regards the U.S. recovery as deeply rooted, with labor markets steadily improving, households and businesses freer from the heavy debt loads that constrained them, and low oil prices providing a “tailwind” to boost consumer spending.

Feb 3, 2015

Fed’s Bullard calls for deleting ‘patient’ from rate guidance

By Michael Flaherty

(Reuters) – The Federal Reserve should delete the word “patient” from its next policy statement, a top Fed official said on Tuesday, which would give the central bank more flexibility on when to raise interest rates.

St. Louis Fed President James Bullard, speaking on a panel of economists at the University of Delaware, also downplayed the Fed’s reference to international developments in its last policy statement, and called for breaking up big banks.

Jan 30, 2015

Fed to propose margin rule aimed at shadow banking -Tarullo

WASHINGTON, Jan 30 (Reuters) – The Federal Reserve plans to
propose a rule that applies minimum margin requirements to
certain forms of securities financing deals, in a move aimed at
reining in the shadow banking industry, a top Fed official said
on Friday.

Fed Governor Daniel Tarullo, the central bank’s chief
overseer of its bank regulation, said the Fed aims to take a
margin requirement rule passed last year by the Financial
Stability Board (FSB), a global group of regulators, and apply
it to the United States.

Jan 28, 2015

Fed upbeat on U.S. economy despite global turmoil

WASHINGTON, Jan 28 (Reuters) – The Federal Reserve on
Wednesday said the U.S. economy was expanding “at a solid pace”
as it largely looked through weakness overseas in a signal that
it remains on track to raise interest rates later this year.

The U.S. central bank repeated it would be “patient” in
deciding when to raise benchmark borrowing costs from zero,
where they have been stuck since late-2008.

Jan 28, 2015

Fed keeps patient approach to hiking rates despite global turmoil

WASHINGTON, (Reuters) – The Federal Reserve on Wednesday repeated that it will remain “patient” in deciding when to raise interest rates, and said the U.S. economy is on track despite turmoil in other markets around the world.

Concluding their first policy-setting meeting of the year,

Fed officials looked past the urgent moves made by other central

banks this month to boost their struggling economies and saw

continued economic expansion in the United States.

“The committee judges that it can be patient in beginning to normalize the stance of monetary policy,” the Fed’s policy statement said.

Jan 28, 2015

Senator Rand Paul re-introduces ‘Audit the Fed’ bill

WASHINGTON (Reuters) – Republican Senator Rand Paul, a potential 2016 presidential candidate, on Wednesday re-introduced a bill that would expose the Federal Reserve’s monetary policy discussions and decisions to a congressional audit.

The Kentucky senator’s move to re-introduce the bill, along with 30 co-sponsors, comes as Republican lawmakers and some Democrats increase their efforts to rein in the U.S. central bank and make it more transparent.

Jan 28, 2015

U.S. Senator Rand Paul re-introduces “Audit the Fed” bill

WASHINGTON, Jan 28 (Reuters) – Republican Senator Rand Paul,
a potential 2016 presidential candidate, on Wednesday
re-introduced a bill that would expose the Federal Reserve’s
monetary policy discussions and decisions to a congressional
audit.

The Kentucky senator’s move to re-introduce the bill, along
with 30 co-sponsors, comes as Republican lawmakers and some
Democrats increase their efforts to rein in the U.S. central
bank and make it more transparent.

    • About Michael

      "In June 2009, Michael Flaherty became a Chief Correspondent for Reuters News, leading a team of journalists who cover investment banking, mergers & acquisitions, private equity and hedge funds, equity capital markets, natural resources and property across Asia. He arrived in Hong Kong in Feb. 2008 as Reuters' Asia Financial Services correspondent, covering the investment banks and M&A. Flaherty was hired by Reuters in New York in Dec. 2003. He was voted Reuters Journalist of the Year for his 2007 coverage of the U.S. private equity boom and bust. He started at Reuters with the consumer group covering office retailers ..."
      Joined Reuters:
      Dec. 1, 2003
      Awards:
      Peninsula Press Club, 2002, Reuters Journalist of the Year, 2007, M&A International, 2007
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