Mike & Co., Two weeks after the MetLife decision was handed down, here come the Fed/FDIC living will findings that half of the nation’s eight SIFI banks failed to submit “credible” plans. The main policy takeaways from two developments appear at first blush to diverge sharply. MetLife restricts the authority of the USG (or …
Mike & Co. — If voters are uncertain and uneasy about the state of and short-term prospects for the economy, they are in good company. Surveying the indicators, the Federal Reserve voted yesterday to recalibrate before resuming its planned rate increases. Its announcement reduced from four to two the number of such increases it …
Mike & Co. — The Chair of the Federal Reserve went before House Financial Services to provide a report on the nation’s economic condition, a kind of bi-annual checkup. No news was made, no fireworks went off and no market mood swings occurred. As for the Fed’s next move, it’s wait-and-see a little while longer. …
Dear Mike & Co., Pre-primary endorsements from Party leaders in tight contests are rare and sometimes understated. To wit, President Obama remarks this week that HRC is as prepared to be president as any non-Vice President as anyone: “I think that what Hillary presents is a recognition that translating values into governance and delivering the …
Mike & Co., A quick review of where topline issues stand after last week, followed by events of note this coming week. Tomorrow, a focus on what the Fed is facing next month or one of the items below if you’re fed up with Fed watching. Best, Dana ———- Last Week Highway Trust Fund to …
Mike & Co. — The top-lines on FY 2016 domestic and military spending settled, there remains work on how that funding should be divvied up among agencies and federal programs. In the coming weeks, the Appropriations Committees will begin crafting an omnibus spending bill that must be signed into law by Dec. 11 to keep the government …
Mike & Co. –– In comments to bank executives at a private meeting in Washington yesterday, Mitch McConnell said that there was no way he would remove the provision that reduces the Fed dividend from six to 1.5 percent for banks with more than $1 billion in consolidated assets. Mechanics of the dividend and more on the latest below. …
Mike & Co. — Welcome to the weekend. A couple of unexpected and unwelcome economic and debt developments marred the end of the week. Below is a look at this morning’s labor statistics report for September. Unless anyone has other ideas, Monday’s update will explore the impact of Treasury’s announcement late this week that the operational deadline …
Mike and Co. — A quick preview today of the week’s main event — the Fed’s decision following the FOMC meetings tomorrow and Wednesday on whether or not to maintain the federal zero interest rate policy in place since 2008. The announcement is expected Thursday. We’ll take a look at the decision and the reaction …
Senate Banking has the ignominious distinction of being the only Senate committee to have not acted on a single nominee before it in the 114th Congress. There are currently 16 nominations waiting for Committee action. These aren’t small time positions — the logjam includes nominees to the Fed’s Board of Governors and senior Treasury, SEC, FDIC, and Ex-Im posts. For months, Chairman Shelby …
