Tag Archives: banking

Only President Uhuru Now Stands Between Borrowers And Low Interest Rates

President Uhuru Kenyatta’s signature is the only remaining hurdle to lower interest rates on loans and higher returns for deposits.

Thursday, MPs defied strong lobbying by commercial banks to unanimously pass a Bill that intends to regulate interest rates applicable to bank loans and deposits,…read more…

Why Is The White House Threatening To Veto An Imaginary Trade Promotion Authority (TPA)?

‘…This amendment specifically goes out of its way to state that it would not “restrict the exercise of domestic monetary policy.”…’ – original author

The Baseline Scenario

By Simon Johnson

At today’s daily briefing, White House spokesman Josh Earnest communicated the president’s threat to veto any trade promotion authority (TPA) that “could undermine the independence or ability of the Federal Reserve to make monetary policy decisions”.  (The question was posed at minute 42:50, Mr. Earnest’s answer starts at 43:31, and the lead up to this quote starts around 45:20.)

Mr. Earnest’s statement seems clear enough, but what potential TPA is he talking about?  Either the White House is confused or some other communications strategy is at work here.  Either way, Mr. Earnest is describing some imaginary version of TPA that is simply not on the congressional table.

He most certainly cannot be accurately describing the bipartisan Portman-Stabenow amendment, currently before the Senate.  This amendment specifically goes out of its way to state that it would not “restrict the exercise of domestic monetary policy.”

View original post 737 more words