Election 2024
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Analysts are watching both Vice President Kamala Harris and former President Donald Trump for potential regulatory picks, as well as how strongly Trump advocates for policies like tariffs and deportations that could impact the economy, inflation and bankers' prospects.
Markets welcomed the news of a second Trump presidency.
"If you had the Trump trade on for the last six weeks, it's been outstanding," said Ed Al-Hussainy, a rates strategist at Columbia Threadneedle Investment. "The question is these winning runs don't last forever and is this a good time to take profits."
While the message from investors is broadly positive, there is also a stern warning in the market gyrations.
The surge in Treasury yields underscores concerns that Trump's policies will swell an already bloated budget deficit and reignite an inflation spiral that the Federal Reserve was only just finally quelling in the wake of the pandemic.
The head of the U.S. Department of Housing and Urban Development under the Biden Administration said she will transition from public life starting March 22.
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The failures of Silicon Valley Bank, Signature Bank and First Republic shook the banking system and sparked renewed debate among regulators and lawmakers about deposit insurance, bank capital and liquidity rules and resolvability. One year later, some of those policy debates have fallen by the wayside while others have been amplified.
Vice President Kamala Harris has kept a low profile in banking policy, and there is a reasonable expectation that her administration would pick up where Biden left off. But if she wanted to, Harris could reset Democrats' financial policy agenda.
Vice President Harris' surprise elevation to the top of the Democratic ticket and the ascent of Ohio Sen. J.D. Vance to be the Republican vice presidential pick brings renewed vigor to each party's economic vision.
Following Sunday's news of President Biden's decision not to seek reelection, see how the past two administrations handled banking reforms and what the future might hold.
Vice President Kamala Harris, the most likely choice to replace President Joe Biden on top of the Democratic presidential ticket in November, has a long and complicated history with the banking industry.
Investors are set to start the week scrambling to decide if President Joe Biden's decision to end his reelection campaign and endorse Vice President Kamala Harris increases or decreases Donald Trump's chances of regaining power.
The week of the Republican National Convention brought with it some of the biggest political moments the country has seen for decades, some of which center on the rise of economic populism in the Republican party. Here's some of the biggest moments that matter for bankers.
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The head of the U.S. Department of Housing and Urban Development under the Biden Administration said she will transition from public life starting March 22.
March 11
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Regulatory reform – rather than Biden's proposed solutions – is needed to fix the inventory crisis, some say, but others applauded the president's buyer cost-cutting initiatives.
March 8
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Here's how the former regulator thinks Fannie Mae and Freddie Mac could exit conservatorship and where he sees the residential market headed this year and next.
March 8
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The title proposal is part of a broader housing cost reduction proposal being discussed in the State of the Union speech.
March 7
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The letter, which was sent to bank regulators, represents a further escalation of lawmaker criticism of the Basel III endgame proposal, and comes just as Federal Reserve Chairman Jerome Powell is set to testify in the House Financial Services Committee.
March 6
