Fed Emergency Powers Back on Senate Docket
Just before the Senate passed the stopgap bill to avert a shutdown, Sen. Paul (R-KY) forced a vote on an amendment to prevent the Fed from buying debt from states and municipalities.
DOJ Goes After “Gate-Keepers”
In remarks late yesterday, Assistant AG Jonathan Kanter highlighted the impact of new DOJ/FTC guidelines (see FSM Report MERGER13) and enforcement efforts with regard to “gate-keepers” – i.e., “monopoly chokepoints” so powerful that they control entry and pricing in a key sector in which they also often compete.
Fed Seems a Bit Warier of Banking-System Stress
The Fed monetary-policy report submitted today ahead of Chair Powell’s testimony next week includes a financial-stability analysis largely derived from the FRB’s most recent financial-stability report (see Client Report SYSTEMIC97) and the update provided earlier this week by a key FRB-NY official.
White House Steps in to Comfort NYCB Worries
At close of business, NYCB shares had sunk to levels not seen since 1997 following the release of still more bad news on Thursday.