White House to consider Richard Cordray as top Fed banking regulator- WSJ

BY Reuters | ECONOMIC | 11/30/21 10:44 AM EST

Nov 30 (Reuters) - U.S. President Joe Biden is considering Richard Cordray to serve as the Federal Reserve's top banking regulator, the Wall Street Journal reported https://on.wsj.com/3rru2kz on Tuesday, citing people familiar with the matter.

Cordray served as the first director of the Consumer Financial Protection Bureau. If nominated and confirmed by the Senate, he will succeed Randal Quarles as the Fed's vice chairman of banking supervision, the report said. (Reporting by Sabahatjahan Contractor in Bengaluru)

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

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Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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