Kevin O’Leary, Multimillionaire: No More Stimulus Checks, Only Unemployment Assistance for Americans

Introduction

Before the pandemic, people were living paycheck to paycheck. With the pandemic, many people have lost work. And, people who do have work, many cannot afford the extra expenses.

The federal government must step in to assist its citizens and residents to get through these rough times.

Rich people, unjustly and nearly criminally coddled by the population, need to stay out of the discussion. An example of a loud-mouth millionaire whose foolish statements are unwelcome is Kevin O’Leary (Canadian, member of the Conservative party).

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  Austerity

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  Neoliberal economic policy in action

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  “Free-market” result

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Kevin O’Leary, Multimillionaire

Into this terrible situation, Kevin O’Leary, whose net worth $400 million and who is the chairman of O’Shares exchange-traded funds, deigns to tell Americans who is worthy of assistance and who is not. O’Leary in an article with CNBC explained—

That’s why unemployment benefits should be at the center of the next stimulus package, Kevin O’Leary, chairman of O’Shares ETFs and investor on ABC’s “Shark Tank,” tells CNBC Make It.

“I would like to see a $400 a week support for the next 14 months [for] anybody that’s unemployed,” O’Leary says. “If you’re unemployed because of the pandemic, we’ll support you with a few hundred dollars a week until you can find a job,” he adds.

As for an additional round of stimulus checks, O’Leary says it is not necessary. “We don’t need the $1,200 check to everybody anymore because a lot of those people have now found work again,” he says.

Taylor Locke, CNBC

Who are you, O’Leary, to say this?!? Just because you hoard millions of dollars, that makes you a king?

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Pandemic Relief for All: the Suffering Unemployed and those whose Salaries Cannot Bear the Additional Expenses of a Public Health Crisis

There are many people suffering with the financial fallout caused by the pandemic: the unemployed who have lost their cash flow completely and then those who have their jobs, but the pre-pandemic salaries cannot keep up with the expenses.

So, I strenuously disagree with multimillionaire O’Leary. The people who have lost their cash flow through no fault of their own need the full $600 on top of unemployment. In addition, people need assistance to deal with the unexpected pandemic expenses—the $1,200 stimulus check, which should not be sporadic but monthly during the pandemic and to relieve the financial burden afterward. (One could argue that it should be more than $1,200.)

Conclusion

I am disgusted that I am seeing the situation that millionaires have the nerve to say who deserves assistance. We all live in the country and the proper place for policy and the policy must serve all of the population, not just the rich, powerful, and well-connected. Enough! Readers, please call or write your respective Representatives and Senators, even write the Congressional committees, to let your opinion be registered: Pandemic relief for all.

Federal Reserve Board: H.2 Release for Week Ending June 29, 2019; H.4.1 Release (Balance Sheet) for Week Ending July 5, 2019; 3 Of Note Items

Of Note–

(1) Monetary Policy Report, July 2019

The Monetary Policy Report hearings will be held on July 10 and 11, 2019. (updated 7-9-19)

U.S. House of Representatives	U.S. Senate
Wednesday, July 10, 2019, 10:00 a.m., House Financial Services Committee	Thursday, July 11, 2019, 10:00 a.m., Senate Banking Committee
Press release: https://financialservices.house.gov/calendar/eventsingle.aspx?EventID=403999	Press release: https://www.banking.senate.gov/hearings/07/08/2019/the-semiannual-monetary-policy-report-to-the-congress
Monetary Policy Report, issued July 5, 2019, https://www.federalreserve.gov/publications/files/20190705_mprfullreport.pdf

(2) Monetary policy only for the rich. The fruits of the so-called recovery did not reach many people, leaving grave doubt about the effectiveness of monetary policy. Via Washington Post

Comment: Some comments on the article attempt to blame the suffering for their malady, as if buying a $3 cup of coffee is the only thing keeping people from buying homes. [Assuming a cup of coffee 5 days a week for a year-(3*5)*52 =$780. A house in DC could cost at least $200,000]

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(3) The perils of stock buybacks. Via Naked Capitalism

 

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The Federal Reserve Board (Board) publishes a weekly digest of its activities on its website. The digest is called the H.2 Release and is published every Thursday. The release for the week ending June 29, 2019, is below.

H.2 Release–Action of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received

Category	Action Taken
Bank Holding Companies	Banco Santander, S.A., Madrid, Spain — to indirectly acquire additional shares of Santander Consumer USA Holdings Inc., Dallas, Texas. -Approved, June 26, 2019   Texas Independent Bancshares, Inc., Texas City, Texas — to acquire Preferred Bancshares, Inc., Houston, and thereby indirectly acquire Preferred Bank; and for Texas First Bank, Texas City, to merge with Preferred Bank and establish branches. -Approved, June 26, 2019
Forms	Forms — initial Board review to extend without revision the Recordkeeping Provisions Associated with Guidance on Leveraged Lending (FR 4203). -Proposed, June 24, 2019
Personnel	Division of Supervision and Regulation — appointment of James F. Price, Jr., as deputy director. -Approved, June 20, 2019 (A/C)
Supervision and Regulation	Stress tests and capital plan reviews — 2019 results. -Approved, June 20, 2019 (A/C)

Federal Reserve Board: Balance Sheet (H.4.1 Release)

The Board publishes data of factors affecting reserve balances. The digest is called the H.4.1 Release, and they are published every Thursday (or the next business day if the publication date falls on a federal holiday). The release for July 5, 2019, is below.

[Note: The blog will cover the line titled “Total Factors Supplying Reserve Funds.”]

H.4.1 Release–Factors Affecting Reserve Balances

Total factors supplying reserve funds (as of July 3, 2019):  $3,860,965 (in millions of dollars). (On September 26, 2007, this amount was $900,473 (in millions of dollars)).

(See the release for further information.)

 

 

 

Federal Reserve Board: H.2 Release for Week Ending December 15, 2018; H.4.1 Release (Balance Sheet) for Week Ending December 20, 2018

Of Note—

The Fed Seeks to Increase Unemployment to Thwart Inflation.

Comment: For whose benefit? The vulnerable or the rich? What bothers me considerably about the Federal Open Market Committee’s (FOMC) monetary policy is the agency’s exclusive focus on the rich, at the clear expense of the rest of the country. This is the result of the FOMC and the Federal Reserve Board being the reserve of the wealthy and those that promote this exclusive focus.

Bloomberg op-ed by Narayana Kocherlakota.

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The Federal Reserve Board (Board) publishes a weekly digest of its activities on its website. The digest is called the H.2 Release and is published every Thursday. The release for the week ending December 15, 2018, is below.

H.2 Release–Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received

Category	Action Taken
Forms	Forms — initial Board review to implement the New Hire Information Collection (FR-27). -Proposed, December 11, 2018
Enforcement	Farmers State Bank, Pine Bluffs, Wyoming — issuance of notices of intent to prohibit Frank Smith and Mark Kiolbasa, institution-affiliated parties of Farmers State Bank, from the banking industry. -Approved, December 11, 2018

Federal Reserve Board: Balance Sheet (H.4.1 Release)

The Board publishes data of factors affecting reserve balances. The digest is called the H.4.1 Release, and they are published every Thursday (or the next business day if the publication date falls on a federal holiday). The release for December 20, 2018, is below.

[Note: The blog will cover the line titled “Total Factors Supplying Reserve Funds.”]

H.4.1 Release–Factors Affecting Reserve Balances

Total factors supplying reserve funds (as of December 19, 2018):  $4,132,011 (in millions of dollars). (On September 26, 2007, this amount was $900,473 (in millions of dollars)).

(See the release for further information.)

Federal Reserve Board: H.2 Release for Week Ending October 27, 2018; H.4.1 Release (Balance Sheet) for Week Ending November 1, 2018

Of Note—

(1) The “American Dream” is dead (except for the rich). Joseph Stiglitz wrote an article for the Scientific American, “The American Economy is Rigged.” (November 2018)

Key Quote:

An alternative theory is far more consonant with the facts. Since the mid-1970s the rules of the economic game have been rewritten, both globally and nationally, in ways that advantage the rich and disadvantage the rest. And they have been rewritten further in this perverse direction in the U.S. than in other developed countries—even though the rules in the U.S. were already less favorable to workers.

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The Federal Reserve Board (Board) publishes a weekly digest of its activities on its website. The digest is called the H.2 Release and is published every Thursday. The release for the week ending October 27, 2018, is below.

H.2 Release–Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received

Category	Action Taken
Advisory Councils	Community Advisory Council — announcement of six new members of the council. -Announced, October 25, 2018
Enforcement	AllNations Bank, Calumet, Oklahoma — written agreement with the Federal Reserve Bank of Kansas City and the Oklahoma State Banking Department. -Announced, October 25, 2018   First Iowa State Bank, Keosauqua, Iowa — issuance of consent order of prohibition against Joel Shumate, a former institution-affiliated party. -Announced, October 23, 2018

Federal Reserve Board: Balance Sheet (H.4.1 Release)

The Board publishes data of factors affecting reserve balances. The digest is called the H.4.1 Release, and they are published every Thursday (or the next business day if the publication date falls on a federal holiday). The release for November 1, 2018, is below.

[Note: The blog will cover the line titled “Total Factors Supplying Reserve Funds.”]

H.4.1 Release–Factors Affecting Reserve Balances

Total factors supplying reserve funds (as of October 31, 2018):  $4,186,805 (in millions of dollars). (On September 26, 2007, this amount was $900,473 (in millions of dollars)).

(See the release for further information.)

Federal Reserve Board: H.2 Release for Week Ending September 22, 2018; H.4.1 Release (Balance Sheet) for Week Ending September 27, 2018

Of Note

(1) The blog added an entry on the one-percenter economists page for Jerome Powell. Powell is not a Ph.D. economist-but he is a deficit hawk (and multimillionaire)).

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The Federal Reserve Board (Board) publishes a weekly digest of its activities on its website. The digest is called the H.2 Release and is published every Thursday. The release for the week ending September 22, 2018, is below.

H.2 Release–Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received

Category	Action Taken
Forms	Forms — initial Board review to extend with revision the Procurement Solicitation Package (FR 1400). -Proposed, September 19, 2018
Regulations and Policies	High-Volatility Commercial Real Estate (HVCRE) Exposures — interagency notice of proposed rulemaking with request for comment to amend the definition of “HVCRE exposure” in the agencies’ capital rules, in accordance with the Economic Growth, Regulatory Relief, and Consumer Protection Act. -Approved, September 17, 2018   Secure and Fair Enforcement for Mortgage Licensing Act (S.A.F.E. Act) — notice of proposed rulemaking with request for comment to repeal the S.A.F.E. Act provisions in the Board’s Regulations H and K, in connection with the transfer of rulemaking authority to the Bureau of Consumer Financial Protection. -Approved, September 19, 2018   Swap Margin Rule — interagency final rule to amend swap margin requirements to conform with recent rule changes that impose new restrictions on certain qualified financial contracts of systemically important financial institutions. -Approved, September 18, 2018
Enforcement	Beach Community Bancshares, Inc., Fort Walton Beach, Florida — written agreement dated June 1, 2010, terminated September 14, 2018. -Announced, September 18, 2018

Federal Reserve Board: Balance Sheet (H.4.1 Release)

The Board publishes data of factors affecting reserve balances. The digest is called the H.4.1 Release, and they are published every Thursday (or the next business day if the publication date falls on a federal holiday). The release for September 27, 2018, is below.

[Note: The blog will cover the line titled “Total Factors Supplying Reserve Funds.”]

H.4.1 Release–Factors Affecting Reserve Balances

Total factors supplying reserve funds (as of September 26, 2018):  $4,240,392 (in millions of dollars). (On September 26, 2007, this amount was $900,473 (in millions of dollars)).

(See the release for further information.)

Federal Reserve Board: H.2 Release for Week Ending September 15, 2018; H.4.1 Release (Balance Sheet) for Week Ending September 20, 2018

Of Note

(1) The (unelected, multimillionaire) Chairman of the Federal Reserve, Jerome Powell, should not discuss fiscal policy (page 26). He can quit and run for Congress if he wants to make comments on fiscal policy. It is galling that the 1 percent (that received so much support from the government) get upset the instant the 99 percent gets a fiscal crumb.

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Note: This rich-person angst about non-one percenters getting something from their government is not isolated to Powell.

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The Federal Reserve Board (Board) publishes a weekly digest of its activities on its website. The digest is called the H.2 Release and is published every Thursday. The release for the week ending September 15, 2018, is below.

H.2 Release–Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received

Category	Action Taken
Bank Holding Companies	Community Depository Institutions Advisory Council — announcement of members and designation of Christopher D. Maher as president and Joe Quiroga as vice president for 2019. -Announced, September 7, 2018
Forms	Forms — final Board review to extend without revision the Interagency Guidance on Managing Compliance and Reputation Risks for Reverse Mortgage Products (FR 4029). -Approved, September 11, 2018
Personnel	Management Division — appointment of Tim Ly as assistant director. -Approved, September 10, 2018
Regulations and Policies	Supervisory Guidance — interagency statement reaffirming the role of supervisory guidance. -Announced, September 11, 2018   Supervisory Practices — interagency statement on supervisory practices on financial institutions affected by Hurricane Florence. -Announced, September 14, 2018
Reserve Bank Operations	Federal Reserve Bank of San Francisco — appointment of Mary C. Daly as president. -Approved, September 13, 2018
Enforcement	Higher One, Inc., New Haven, Connecticut — cease-and-desist order dated December 23, 2015, terminated September 10, 2018. -Announced, September 11, 2018

Federal Reserve Board: Balance Sheet (H.4.1 Release)

The Board publishes data of factors affecting reserve balances. The digest is called the H.4.1 Release, and they are published every Thursday (or the next business day if the publication date falls on a federal holiday). The release for September 20, 2018, is below.

[Note: The blog will cover the line titled “Total Factors Supplying Reserve Funds.”]

H.4.1 Release–Factors Affecting Reserve Balances

Total factors supplying reserve funds (as of September 19, 2018):  $4,255,789 (in millions of dollars). (On September 26, 2007, this amount was $900,473 (in millions of dollars)).

(See the release for further information.)

Federal Reserve Board: H.2 Release for Week Ending September 1, 2018; H.4.1 Release (Balance Sheet) for Week Ending September, 2018; Two Of Note Items

Of Note

(1) Robert Edward Rubin: A faulty exemplar & a standard bearer for the 1 percent, who wrote a column concerned about the deficit (a credit to the people).

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Rubin’s net worth: $100 million (approx.)

Former partner, Goldman Sachs.

After serving as Secretary of the Treasury, Rubin served as director and senior counselor of Citigroup. From Nov. to Dec. 2017, Rubin was temporary chairman of Citigroup. Rubin resigned in early 2009. He received about $126 million during his tenure, which included the U.S bailout of Citigroup.

Rubin is a pro-austerity “deficit hawk” (for the 99%) through the Hamilton Project, “a centrist policy shop that promoted small-bore strategies for weak forms of social insurance, and had little interest in such progressive causes as full employment or a high wage economy. (http://prospect.org/article/end-austerity-crusade)

Notably, he is silent on the extreme cost of empire (aka funding for the Department of War/ Defense).

 

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(2) Oversupply of labor. Via Truthdig: “The Gig Economy and Outsourcing: A Dark Net of Near Slavery,” by Julian Vigo.

Key quote–

More and more, jobs in the commercial sector have been farmed out by outsourcing websites such as Indeed, Upwork, BloggingPro, MediaBistro, FlexJobs, ProBlogger and many others. While Indeed tends to work with local talent, which keeps the job pool within a rational economic boundary, other sites, like Upwork, do not. For instance, here is a job I applied to a few weeks ago and tried to make work—until I realized that this job would, if properly executed, pay only about $30 per day:

I’m looking for an experienced writer, with in-depth knowledge of travel and photography equipment, to write review articles. For the first project you’ll be writing a total of 12 000 words spread over 10 review articles. You’ll be covering popular travel and photography equipment topics. You should be able to do your own research.

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The Federal Reserve Board (Board) publishes a weekly digest of its activities on its website. The digest is called the H.2 Release and is published every Thursday. The release for the week ending September 1, 2018, is below.

H.2 Release–Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received

Category	Action Taken
Supervision and Regulation	Resolution Plans — joint determination to move the next resolution-plan filing dates (1) to July 1, 2020, for four large, complex foreign banking organizations and (2) to December 31, 2019, for Prudential Financial, Inc. -Approved, August 27, 2018
Enforcement	The Bank of New York Mellon, New York, New York — consent order of assessment of a civil money penalty, pursuant to the National Flood Insurance Act, dated August 28, 2018. -Announced, August 30, 2018   UCB Financial Group, Inc., Atlanta, Georgia (now known as ABB Financial Group, Inc.) — written agreement dated August 19, 2010, terminated August 27, 2018. -Announced, August 30, 2018

Federal Reserve Board: Balance Sheet (H.4.1 Release)

The Board publishes data of factors affecting reserve balances. The digest is called the H.4.1 Release, and they are published every Thursday (or the next business day if the publication date falls on a federal holiday). The release for September 6, 2018, is below.

[Note: The blog will cover the line titled “Total Factors Supplying Reserve Funds.”]

H.4.1 Release–Factors Affecting Reserve Balances

Total factors supplying reserve funds (as of September 5, 2018):  $4,255,799 (in millions of dollars). (On September 26, 2007, this amount was $900,473 (in millions of dollars)).

(See the release for further information.)

Federal Reserve Board: H.2 Release for Week Ending August 18, 2018; H.4.1 Release (Balance Sheet) for Week Ending August 23, 2018

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Of Note

(1) David Wilcox, Ph.D., Division Director, Research and Statistics, to retire year-end 2018.

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(2) The Center for Popular Democracy (also known as FED UP) visits Jackson Hole, Montana, the location of a closed-door conference of the Federal Reserve.

Also, see Popular Democracy’s report “The Full Employment Mandate of the Reserve: Its Origins and Importance.”

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The Federal Reserve Board (Board) publishes a weekly digest of its activities on its website. The digest is called the H.2 Release and is published every Thursday. The release for the week ending August 18, 2018, is below.

H.2 Release–Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received

Category	Action Taken
Forms	Forms — final Board review to extend without revision the Recordkeeping Requirements Associated with Regulation GG (Prohibition on Funding of Unlawful Internet Gambling) (FR 4026). -Approved, August 15, 2018   Forms — final Board review of a proposal to extend with revision the Reporting Requirements Associated with Regulation QQ (Reg QQ). -Approved, August 15, 2018   Forms — initial Board review to extend without revision the Supervisory and Regulatory Survey (FR 3052). -Proposed, August 15, 2018   Forms — final Board review to extend without revision the Recordkeeping Requirements Associated with Changes in Foreign Investments (Made Pursuant to Regulation K) (FR 2064). -Approved, August 15, 2018
Monetary and Financial Policy	Term Deposit Facility — floating-rate offering of seven-day term deposits with an early withdrawal feature, same-day settlement, and a maximum tender amount of $250 million on August 23, 2018. -Announced, August 16, 2018
Enforcement	Capital Funding Bancorp, Inc., Baltimore, Maryland; and CFG Community Bank — cease-and-desist order dated October 31, 2011, terminated August 8, 2018. -Announced, August 14, 2018   CommerceWest Bank, Irvine, California — cease-and-desist order dated April 12, 2016, terminated August 8, 2018. -Announced, August 14, 2018   Flagstar Bancorp, Inc., Troy, Michigan — supervisory agreement issued by the Office of Thrift Supervision dated January 27, 2010, terminated August 14, 2018. -Announced, August 16, 2018   HSBC North America Holdings, Inc., New York, New York — cease-and-desist order dated October 4, 2010, terminated August 7, 2018. -Announced, August 14, 2018   NBRS Financial, Rising Sun, Maryland — final decision and order of prohibition against Jacob H. Goldstein, a former institution-affiliated party. -Approved, August 15, 2018   Santander Holdings USA, Inc., Boston, Massachusetts — written agreement dated July 2, 2015, terminated August 14, 2018. -Announced, August 16, 2018

Federal Reserve Board: Balance Sheet (H.4.1 Release)

The Board publishes data of factors affecting reserve balances. The digest is called the H.4.1 Release, and they are published every Thursday (or the next business day if the publication date falls on a federal holiday). The release for August 23, 2018, is below.

[Note: The blog will cover the line titled “Total Factors Supplying Reserve Funds.”]

H.4.1 Release–Factors Affecting Reserve Balances

Total factors supplying reserve funds (as of August 22, 2018):  $4,276,468 (in millions of dollars). (On September 26, 2007, this amount was $900,473 (in millions of dollars)).

(See the release for further information.)

Federal Reserve Board: H.2 Release for Week Ending July 28, 2018; H.4.1 Release (Balance Sheet) for Week Ending August 2, 2018; Precarious Work and Google

Of Note–

(1) Precarious work. The thing that bothers me about precarious work is that no matter how great you work, you can be fired any minute. As a result, things that require long-term commitment–a house, children, car purchase–are out of reach. Workers at the work site all have “temp horror stories,” as if the temp workers are not also being exploited by the employer (low pay and no benefits).

This example serves as a preface to a Bloomberg story, Inside Google’s Shadow Workforce by Mark Bergen and Josh Eidelson, about the precarious workers at Google, nearly 50 percent of Google’s workforce.

Yet Jerome Powell, multimillionaire Chairman of the Federal Reserve Board continues to talk about “full employment”.

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The Federal Reserve Board (Board) publishes a weekly digest of its activities on its website. The digest is called the H.2 Release and is published every Thursday. The release for the week ending July 28, 2018, is below.

H.2 Release–Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received

Category	Action Taken
Forms	Forms — final Board review to extend with revision the Consolidated Financial Statements for Holding Companies (FR Y-9C), Parent Company Only Financial Statements for Large Holding Companies (FR Y-9LP), Parent Company Only Financial Statements for Small Holding Companies (FR Y-9SP), Financial Statements for Employee Stock Ownership Plan Holding Companies (FR Y-9ES), and Supplement to the Consolidated Financial Statements for Holding Companies (FR Y-9CS). -Approved, July 24, 2018
Enforcement	Chicago Shore Corporation, Chicago, Illinois, and Security Chicago Corporation — written agreement dated October 28, 2016, terminated July 24, 2018. -Announced, July 26, 2018   Community Trust Bank, Pikeville, Kentucky — issuance of a consent cease-and-desist order. -Approved, July 24, 2018   East West Bank, Pasadena, California — written agreement dated November 9, 2015, terminated July 18, 2018. -Announced, July 24, 2018

Federal Reserve Board: Balance Sheet (H.4.1 Release)

The Board publishes data of factors affecting reserve balances. The digest is called the H.4.1 Release, and they are published every Thursday (or the next business day if the publication date falls on a federal holiday). The release for August 2, 2018, is below.

[Note: The blog will cover the line titled “Total Factors Supplying Reserve Funds.”]

H.4.1 Release–Factors Affecting Reserve Balances

Total factors supplying reserve funds (as of August 1, 2018):  $4,302,997 (in millions of dollars). (On September 26, 2007, this amount was $900,473 (in millions of dollars)).

(See the release for further information.)

Federal Reserve Board: H.2 Release for Week Ending June 2, 2018; H.4.1 Release (Balance Sheet) for Week Ending June 7, 2018

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Of Note–

(1) Nancy Pelosi (net worth $100 million (2015)) and “pay-go”: On so-called pay-go, the limitation is a creation of Congress. Congress can also get rid of it. Pay-go is not infallible fiscal doctrine. (Note: Millionaire economist Jason Furman (net worth $24 million) has also favored pay-go.) This is one idea that will quash any blue wave.

Comment:  The Democrats’ problem is not messaging but the lack of programs that will help people (stifled by pay-go nonsense).

paris_tuileries_garden_facepalm_statue

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The Federal Reserve Board (Board) publishes a weekly digest of its activities on its website. The digest is called the H.2 Release and is published every Thursday. The release for the week ending June 2, 2018, is below.

H.2 Release–Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received

Category	Action Taken
Forms	Forms — final Board review to extend without revision the 2019 Survey of Consumer Finances (FR 3059). -Approved, May 30, 2018
Personnel	Division of Consumer and Community Affairs — appointment of Amy Henderson as assistant director. -Approved, May 30, 2018 Division of Information Technology — appointment of Brian Lester, Scott Meyerle, and Langston Shaw as assistant directors. -Approved, May 30, 2018
Regulations and Policies	Regulation VV (Proprietary Trading and Certain Interests in and Relationships with Covered Funds) — notice of proposed rulemaking with request for comment to simplify and tailor requirements relating to the “Volcker rule.” -Approved, May 30, 2018

Federal Reserve Board: Balance Sheet (H.4.1 Release)

The Board publishes data of factors affecting reserve balances. The digest is called the H.4.1 Release, and they are published every Thursday (or the next business day if the publication date falls on a federal holiday). The release for June 7, 2018, is below.

[Note: The blog will cover the line titled “Total Factors Supplying Reserve Funds.”]

H.4.1 Release–Factors Affecting Reserve Balances

Total factors supplying reserve funds (as of June 6, 2018):  $4,366,764 (in millions of dollars). (On September 26, 2007, this amount was $900,473 (in millions of dollars)).

(See the release for further information.)