#AceFinanceNews – USA:Feb.23: Across the U.S. Midwest, the plunge in grain prices to near four-year lows is pitting landowners determined to sustain rental incomes against farmer tenants worried about making rent payments because their revenues are squeezed. Reuters reported today.
#AceFinanceNews – WASHINGTON:Feb.23: President Barack Obama will direct the Department of Labor on Monday to proceed with new rules that would rein in conflicts of interests among Wall Street brokers who advise clients on retirement investments, administration officials said. Reuters reported today.
#AceFinanceNews – WASHINGTON:Feb.23: Local bankers are joining the fight against a congressional proposal to audit the U.S. Federal Reserve’s policy decisions, with more expected to lobby against the bill if it gains traction in Washington Reuters reported.
The audit the Fed bill, championed by Rand Paul of Kentucky, a Republican Senator and likely presidential candidate, would encourage interference from lawmakers into the central bank’s monetary policy discussions.
A similar Fed audit bill passed the House of Representatives late last year and a hearing on Fed transparency is expected to be formally called by the Senate banking committee, according to people familiar with the matter.