News Journal

Fed may get increased authority

The U.S. treasury secretary Henry Paulson has planned to make market regulation that will improve to give the Federal Reserve more powers and authority .The federal became the biggest lenders when the take over of Bear Stern by JPMorgan Chase & Co. took place.

The federal will be made responsible to take care of the stability in market and the proposal will need the Exchange Commission to merge with the Commodity Futures Trading Commission.