US: Trump's Dismissal Of Democrat FTC Commissioners Delivers More Uncertainty

Mar-19 14:23

President Donald Trump yesterday fired the two Democrat members of the Federal Trade Commission - Rebecca Slaughter and Alvaro Bedoya -, a surprise move considering the White House had hinted at some continuity from the Biden administration at the FTC. 

  • Bedoya issued a statement on X saying: “I am a commissioner at the Federal Trade Commission. The president just illegally fired me. This is corruption plain and simple.” He added that he will have “more to say” when testifies before a joint Colorado House and Senate Judiciary Committee hearing today. Bedoya is scheduled to appear before the committee at 13:30 ET 17:30 GMT.
  • Slaughter said that her firing violated “the plain language of a statute and clear Supreme Court precedent.”
  • The New York Times’ Dealbook writes: “…in many ways, President Trump’s firing of the Federal Trade Commission’s two Democratic commissioners is a major shock to the system, another challenge to the status quo — and Supreme Court precedent — that is stoking uncertainty for corporate America.”
  • Dealbook adds: “It also thrusts Trump’s desire for more control over agencies into the spotlight. The president has already issued an executive order seeking more oversight over independent regulators like the F.T.C., the S.E.C. and the National Labor Relations Board. A big question is whether Trump tries a similar move at those agencies.”

Historical bullets

FED: Dovish-Leaning Harker Ahead – 0930ET

Feb-17 14:22
  • Philly Fed’s Harker (non-voter, retiring Jun 2025) is the first of three Fed speakers today despite the President’s Day holiday.
  • The dovish leaning FOMC member is set to speak on the economic outlook 0930ET (text followed by Q&A), having last said on Jan 9 that the Fed can stay where we are [with policy rates] for a little bit but not for long.
  • “I still see us on a downward policy rate path. Looking at everything before me now, I am not about to walk off this path or turn around…but the exact speed I continue to go along this path will be fully dependent upon the incoming data.”

BTP: Block trade

Feb-17 14:19

BTP Block trade, suggest buyer:

  • IKH5 ~1.2k at 119.83.

SONIA: Call spread buyer

Feb-17 14:07

SFIJ5 96.15/96.25, bought for half in 7.5k.