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Pete Schroeder
correspondent, Notre Dame alum. Spelled like the Peanuts character, pronounced like Hank from "Breaking Bad." pete.schroeder@thomsonreuters.com
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Pete Schroeder 12h
Replying to @amacker
Avocado toast — millennials — shrinking homeownership rate among younger people — reduced need for govt support of housing market — recap and release is imminent
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Pete Schroeder 16h
Maxine Waters tells reporters she is circulating a letter, trying to build support for her call to freeze Facebook's Libra project. She says she hasn't yet heard back from the company.
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Pete Schroeder Jun 24
My money is on it being framed as, "You can't even get something as simple as the name right, and you expect to be able to run such a monolith" kind of thing.
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Pete Schroeder Jun 24
Replying to @BrianRKnight
It's a bit of a silly sideshow that makes bank executives look bad. Of COURSE they're going to ask about it.
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Pete Schroeder Jun 24
Maxine Waters has announced the July agenda for House Financial Services. One is devoted to the pending BB&T/Suntrust merger. Hearing title is, "The Next Megabank? Examining the Proposed Merger of..." so draw your conclusions from there.
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Pete Schroeder Jun 24
Hearings to watch: House Financial Services is talking about Facebook's cryptocurrency on July 17, and dissecting the proposed BB&T/Suntrust merger on July 24
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Pete Schroeder Jun 24
Jim Himes, who has been a go-to "moderate Dem" voice in many DC stories, tweets in favor of impeachment proceedings.
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Pete Schroeder Jun 24
Replying to @JBSDC @vtg2 and 2 others
Probably right. But does Fed Chair Hassett have the same economic perspective as CEA Chair Hassett?
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Pete Schroeder Jun 24
Replying to @JBSDC @vtg2 and 2 others
Govs? Yes. Chair? I'm skeptical. He could've gotten Taylor (and probably Warsh) confirmed, but those guys would be making him even angrier right now. And if he tried to put in place a true partisan lapdog, as Cain & Moore were perceived, I'm much less sanguine on their chances.
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Pete Schroeder Jun 24
Replying to @JBSDC @vtg2 and 2 others
Couldn't someone make the counterargument that those "mainstream" Fed picks probably did more to help than hurt? That is, if Trump picked some real off-the-wall candidates out the gate for FRB and chair, things could have gotten very dicey very quickly?
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Pete Schroeder Jun 24
But your lower point is the biggie: Trump's searching for a Fed unicorn. Someone who favors lower rates, easier regs, and can be confirmed by a GOP-led Senate -- ideally remarkably quickly to minimize mkt disruptions.
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Pete Schroeder Jun 24
Right, my question was whether after you raise capital so much GSIBs break themselves up, do you then trim regulations for the greater number of super-regionals? Don't think Kashkari has discussed that aspect before.
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Pete Schroeder Jun 24
I could be wrong, but I don't believe Kashkari has weighed in on whether to curb regs after swinging the capital sledgehammer. Academically, you'd think there'd be room for it if you've effectively curbed risk via capital but [shruggie]
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Pete Schroeder Jun 24
Replying to @SylvanLane
If anything, Trump has shown himself, at least rhetorically, willing to toss the banking industry over the side if he thinks there's enough political benefit.
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Pete Schroeder Jun 24
Replying to @SylvanLane
I mean, the piece in NYMag about how Kashkari should be Trump's Fed chair doesn't EVEN mention regs -- and Kashkari wants to dramatically increase capital requirements.
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Pete Schroeder Jun 24
Replying to @SylvanLane
There's some avenue to explore here about whether Trump would be willing to make a devil's bargain on rates if it also meant stricter bank regs. Because if he really wanted to achieve his monpol goal, that seems like what he'd have to tolerate.
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Pete Schroeder Jun 24
Yet again, good to note that the Fed Board is exclusively Trump picks save one.
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Pete Schroeder Jun 21
Replying to @reporterev @vtg2
Power of positive thinking, Evan.
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Pete Schroeder Jun 21
Replying to @reporterev @vtg2
So yea, it's retroactive.
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Pete Schroeder Jun 21
Replying to @reporterev @vtg2
I believe four years total. It's just taken foreign banks more time to establish their IHCs and get up and running on a full CCAR. Assuming foreign banks pass in 2020, they can be freed of qualitative as well.
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