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SCOTUS to hear case on the constitutionality of CFPB's funding
  + stars: | 2023-10-03 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSCOTUS to hear case on the constitutionality of CFPB's fundingMark Calabria, senior advisor at The Cato Institute and former director of The Federal Housing Finance Agency, along with NBC and MSNBC's Danny Cevallos, join 'The Exchange' to discuss Supreme Court hearing a case on the constitutionality of the Consumer Financial Protection Bureau's funding supply, how this supreme court ruling could impact similarly funded agencies, and the likelihood of the court returning a narrow decision.
Persons: SCOTUS, Mark Calabria, Danny Cevallos Organizations: Cato Institute, Federal Housing Finance Agency, NBC, Consumer
The Fed's 2% inflation goal is an "absolute trap," according to 40-year market veteran Barry Knapp. Knapp pointed to tightening credit conditions, suggesting more tightening from the Fed could cause a recession. Elevated prices aren't always a drag on the economy, he added, pointing to 3%-4% inflation in the 90s. "The whole 2% target is an absolute trap," The Ironsides Macroeconomics founder said in an interview with CNBC on Tuesday. But elevated inflation isn't necessarily a hindrance to the economy, Knapp said, pointing to 3%-4% inflation in the early 90s, years when the economy expanded and benefited from a huge boom in business spending.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBank sector still has small segment with 'real problems,' says Cato Institute's Mark CalabriaCato Institute’s Mark Calabria and Janey Montgomery’s Timothy Coffey join 'The Exchange' to discuss the banking crisis and fallout and the outlook for the sector.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExpanding the FDIC deposit cap would increase the rate of bank failures, says Cato's Mark CalabriaMark Calabria, senior advisor at The Cato Institute and former director of The Federal Housing Finance Agency and CNBC's Steve Liesman, join 'The Exchange' to discuss the latest takeaways from the hearing on the SVB collapse, the questions facing regulators, and considerations around the FDIC deposit cap.
These standards are based on factors including the borrower's financial stability and the state of the housing market and economy. Finding the right size for the credit box is much easier said than done. A tidal wave of foreclosures followed, plunging the US housing market — and the global economy — into chaos. Even just stabilizing the credit box over time could also help smooth out some of the boom-and-bust cycles that have come to define the housing market. "If we do not address this intrinsic cyclicality, the housing market will continue to experience boom-bust cycles, leaving destruction in their wake," the paper said.
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