US regulators tell Steven Mnuchin they see nothing out of ordinary in markets

The President’s Working Group on financial markets, a panel created in the aftermath of the Crash of 1987, doesn’t meet regularly. Instead, the Fed, SEC, CFTC and other agencies convene through the Financial Stability Oversight Council, a watchdog created after the 2008 financial crisis that Mnuchin chairs. That interagency group known as FSOC just met last week and didn’t express particular concern over markets or bank liquidity.

Market regulators’ job is further complicated by the government shutdown. Essential functions continue at the SEC and CFTC, but most employees at both agencies weren’t allowed to report to work Monday as Congress and Trump continue to fight over funding for a wall he wants built along the US-Mexico border.

Bloomberg

Read More

LEAVE A REPLY

Please enter your comment!
Please enter your name here