The central bank wants to let Trump's policies play out across the economy before deciding which way to move interest rates, and it's too soon to know what the impacts will be, the Federal Reserve chair said.

House Republicans, led by House Financial Services Committee Chairman French Hill, R-Ark., outlined their priorities for the Trump administration's banking agenda in a series of letters to key regulators.

The Trump administration is leapfrogging the normal process by taking its fight over a district court injunction blocking efforts to shut down the Consumer Financial Protection Bureau to a federal appeals court, according to the CFPB workers' union.

The Federal Reserve governor said it is healthy to examine the regulatory architecture, but stressed the importance of the central bank having insight into the banking system.

In a paper, former central bank researchers make the case that the Federal Reserve could better support the Treasury market from disruptions in the cash-futures basis trade by hedging its asset purchases.

A rise in U.S. Treasury yields from very low levels in 2020, has resulted in diminished debt affordability, with interest payments-to-revenue hitting about 30% by 2035.

The Consumer Financial Protection Bureau has rehired more than 100 fire employees, but the union claims dozens of employees have not been reinstated in violation of a federal court order.

The issues are hindering the Federal Deposit Insurance Corp.'s ability to meet its regulatory duties, according to the agency's Office of Inspector General. 

A Maryland judge temporarily halted mass layoffs of probationary employees at multiple agencies, citing legal violations and harm to states' ability to respond to unemployment needs.

New York Attorney General Letitia James announced new state legislation to ban unfair and abusive business practices, giving state regulators broader authority to crack down on consumer abuses.