Powell Says Proposal Exceeds What Is Required Of Basel Agreement, Must Ensure Proposed Approach Outweighs Costs; Barr Says He Wants To Ensure The Proposal Does Not Unduly Affect Mortgage Lending
Portfolio Pulse from Happy Mohamed
Federal Reserve Chairman Jerome Powell has stated that a proposal exceeds what is required by the Basel Agreement. He emphasized the need to ensure that the proposed approach outweighs its costs. Attorney General William Barr expressed his desire to ensure that the proposal does not unduly affect mortgage lending.
July 27, 2023 | 4:43 pm
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NEUTRAL IMPACT
The comments by Powell and Barr may impact the broader market, represented by SPY, as they suggest potential changes in regulatory and lending practices.
The comments by Powell and Barr suggest potential changes in regulatory and lending practices. These changes could impact the broader market, as represented by SPY, by affecting the financial sector, which is a significant component of the index. However, the exact impact will depend on the specifics of the proposed changes and their implementation.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50