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.
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.”
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.
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.
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.
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
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.
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.
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.
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.
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
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.