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Regulators Scrapped the Basel Endgame and Proposed Giving Capital Back
In June the Federal Reserve, the OCC and the FDIC formally withdrew the 2023 Basel III endgame framework and replaced it with three proposed
Daniel Whitmore
Eight Trillion Dollars Sits in Money Funds, and It Is Not Waiting for Anything
Money market fund assets reached $7.98 trillion in the first week of September, after a weekly inflow of nearly $45 billion. Government funds
Daniel Whitmore
Nine More Drugmakers Signed the Pricing Deal, and the Tariff Explains Why
On August 31 another nine pharmaceutical companies agreed to most-favored-nation pricing with the administration, among them Teva, CSL, Astellas, Sun Pharma and
Daniel Whitmore
Phase Two of the Chip Tariffs Has a Rule but No Numbers Yet
Commerce Secretary Howard Lutnick spent September 2 on television describing the next round of semiconductor tariffs in a single sentence: build in the United
Daniel Whitmore
The Labor Market Stopped Cracking, and That Made a Rate Increase More Likely
Nonfarm payrolls rose 162,000 in August, and the two prior months were revised up rather than down: June by 11,000 and July
Daniel Whitmore
The Muni Tax Break Survived the Tax Bill. The Yield Curve Never Fully Recovered.
During last year's tax negotiations, ending the federal tax exemption on municipal bond interest was seriously discussed as a way to raise
Daniel Whitmore
Household Debt Shrank Last Quarter. Cards and Car Loans Went the Other Way.
Total US household debt fell to $18.8 trillion in the second quarter, down about $13 billion from the prior quarter, according to the
Daniel Whitmore
The AI Buildout Became an Electricity Story, and the Bill Is Being Split in Public
Washington State's utility regulator held a workshop last month on what to do about large power users, and it is drafting rules
Daniel Whitmore
Gold Is Far Below Its Record While Every Reason to Own It Got Louder
Spot gold traded near $4,380 an ounce at the start of September, down about 1.4% on the day and roughly a fifth
Daniel Whitmore
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