Powell Takes Guarded Stand on Fed Climate-Risk Rules
In addition to taking skeptical questions about continuing QE today, FRB Chairman Powell was asked about why the Fed has so far not emphasized climate-change risk mitigation.

Justice Takes Tough Stand on VISA Vertical Integration
Calling VISA a “monopolist,” the Department of Justice today challenged the firm’s high-profile acquisition of Plaid, contending that VISA is acquiring it solely to protect its own payment business at great potential cost to merchants and consumers.

Treasury, BIS Reiterate BigTech-Finance Risk, Opportunity
The FSB today held a virtual workshop on the role of BigTech in emerging markets during which broader BigTech issues also came into focus (see FSM Report PAYMENT21).

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