The Federal Reserve still plans to gradually increase interest rates but has left them unchanged at a meeting this week. The central bank says the US economy remains healthy but notes a downturn in growth of business investment. Reuters
Minutes of the Federal Reserve’s May meeting suggest interest rates are likely to increase in June. “Most participants judged that if incoming information broadly confirmed their current economic outlook, it would likely soon be appropriate … to take another step in removing policy accommodation,” according to the minutes. Reuters
The Federal Reserve is expected to leave rates unchanged at this week’s meeting, but more rate hikes are likely later in the year. Steady economic growth and rising inflation have many economists predicting three more rate increases this year. The Associated Press
The Federal Reserve on Wednesday raised its key interest rate to a range between 1.5% and 1.75%, an increase of a quarter of a percentage point, in its first meeting under Chairman Jerome Powell. The rate-setting committee responded to a stronger economic outlook by signaling a brisker rate of increases…
After the US Court of Appeals for the 5th Circuit vacated the Labor Department's fiduciary rule, the department said will it not enforce the rule "pending further review." A department spokesman declined to comment. Pensions & Investments (free access for SmartBrief readers)
State securities regulators have authority to enforce the Labor Department's fiduciary rule, and exercising that authority is "part of the normal scope of what states ought to be doing to protect their citizens," said Joseph Borg, director of the Alabama Securities Commission and president of the North American Securities Administrators…
Despite the Trump administration's anti-regulatory stance, individual agencies are developing plans to introduce a raft of regulations that will affect advisors in the year ahead, writes columnist Mark Schoeff Jr. He runs through the list of regulations advisors should expect. InvestmentNews (tiered subscription model)
President Donald Trump's agenda of rolling back regulations is having little influence on state insurance regulators, who are "moving ahead pretty aggressively on everything," said Howard Mills of Deloitte. Among the major issues for state regulators are consumer protection, cybersecurity and the use of big data, Mills said. InsuranceNewsNet online
House negotiators are fighting to keep a measure to kill the Labor Department's fiduciary rule in an interim spending bill needed to keep the US government running after Jan. 19. The House included the rider in its version of the bill, but final language will be decided through negotiations between…
The Financial Industry Regulatory Authority has explained rules, scheduled to take effect Feb. 5, that prevent financial exploitation of seniors. One provision authorizes FINRA members to temporarily hold up disbursement of funds or securities from accounts "where there is a reasonable belief of financial exploitation of these customers." ThinkAdvisor (free…
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