Rafael Nam
👤 SpeakerAppearances Over Time
Podcast Appearances
The states, however, say that's an unlawful definition, and combined earnings really means the wider money coming into the Fed.
Therefore, the states say the CFPB has to accept the funding, because otherwise it's on course to run out of money in January.
The latest legal fight is about the CFPB's refusal to accept funding for the agency.
Under the law that established the CFPB, the agency is supposed to be funded by the combined earnings at the Federal Reserve.
But under Acting Director Russell Vogt, the CFPB is defining that to mean profits, and arguing that since the Fed is losing money, the agency cannot request the funding.
The states, however, say that's an unlawful definition, and combined earnings really means the wider money coming into the Fed.
Therefore, the states say the CFPB has to accept the funding, because otherwise it's on course to run out of money in January.
The latest legal fight is about the CFPB's refusal to accept funding for the agency.
Under the law that established the CFPB, the agency is supposed to be funded by the combined earnings at the Federal Reserve.
But under Acting Director Russell Vogt, the CFPB is defining that to mean profits, and arguing that since the Fed is losing money, the agency cannot request the funding.
The states, however, say that's an unlawful definition, and combined earnings really means the wider money coming into the Fed.
Therefore, the states say the CFPB has to accept the funding, because otherwise it's on course to run out of money in January.
is set to release an important report card detailing how much the economy grew in the July to September period.
It's backwards looking, so it's not going to provide the latest snapshot of the economy.
Nonetheless, the GDP report is coming at a time when Americans are not feeling great about the economy.
Recent polls have shown the cost of living and affordability are becoming a top concern at many households.
That's putting a lot of pressure on President Trump, who's aggressively defending his economic record.