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Don’t Call It a Rewrite – The Ease of Volcker Rule is for Efficiency Sakes

On May 30, 2018, the Federal Reserve proposed rules to simplify compliance requirements relating to the "Volcker rule," which was established after the global financial crisis of 2008, and prevented taxpayer-insured banks from engaging in risky proprietary trading, and from owning or controlling hedge funds or private equity funds. The Fed’s proposed changes do not go against the rule’s core principles of prohibiting banking entities from making risky financial bets, but aim to ease the nightmar...

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Topics: Federal Reserve, In the News

Jerome Powell for Federal Reserve Chair – What Does That Mean For Banking?

On 11/2/2017, President Trump nominated Jerome Powell to be the next Chair of the Board of Governors of the Federal Reserve System, replacing incumbent Janet Yellen. Powell is widely expected to sail through Senate confirmation hearings and commence his four-year term as Chair on 2/1/2018. He is currently a member of the Board of Governors. So let’s get to know the man and predict how his tenure might impact jobs, interest rates, GDP growth, the financial markets and the banking sector.

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Topics: Federal Reserve, In the News