News Briefs

The Wall Street Journal reports that the Trump administration is delaying its investigation into whether to impose auto tariffs due to ongoing negotiations with the EU, Canada, and Mexico. Commerce Secretary Wilbur Ross has said that the possibility of negotiating better trade deals with key trading partners has reduced the urgency of the automobile investigation, though automobile tariffs have received widespread opposition. WSJ

Former chair of the Council of Economic Advisers Jason Furman writes in a Wall Street Journal op-ed that the Federal Reserve should raise “countercyclical capital-buffer rates,” which dictate the amount of extra equity and cash banks must hold. Furman points out that banking regulation is naturally pro-cyclical, meaning that the Fed should implement policies now that help banks avoid sharply tightening credit standards during the next downturn. WSJ