President Trump's new nominee to the Federal Reserve must build consensus in order to make major rules changes. The Department of Labor has no plans to enforce the "fiduciary rule" on retirement savings.
The Federal Reserve raised the benchmark interest rate. The Treasury Department issued a report recommending rollbacks of Dodd-Frank. Meanwhile, Treasury Secretary Mnuchin walked back a statement he made last year that the president's tax plan would offer no absolute tax cuts to the wealthy.