H.R. 7488: CFTC Office of the Chief Economist Act of 2026

This bill, known as the CFTC Office of the Chief Economist Act of 2026, proposes the establishment of an Office of the Chief Economist within the Commodity Futures Trading Commission (CFTC). Here are the main points:

Establishment of the Office

The bill amends the Commodity Exchange Act to create this new office, which will be part of the CFTC.

Role of the Chief Economist

The Chief Economist will lead this office and serve as an economic advisor to the CFTC. The responsibilities of the Chief Economist include:

• Conducting economic analysis related to the Commission's activities.
• Performing regulatory cost-benefit analyses.
• Engaging in various research projects.

Staffing and Appointments

The CFTC will have the authority to appoint individuals to work in this office. Key points on staffing include:

• Positions may be filled without adhering to the usual competitive service rules, allowing for flexibility in hiring.
• Staff may include economists, research analysts, or data specialists, or those with specialized knowledge related to futures, swaps, commodities markets, or financial regulations.

Coordination with Other CFTC Functions

The bill also requires coordination between the Office of the Chief Economist and other CFTC operations, ensuring that their analysis informs regulatory decisions and considerations, particularly regarding market liquidity.

Conforming Amendments

The bill includes conforming amendments to ensure other sections of the Commodity Exchange Act refer to the new office properly, including considerations of market liquidity in relation to CFTC activities.

Summary

In summary, the CFTC Office of the Chief Economist Act of 2026 aims to enhance the economic analysis capacity of the CFTC by establishing a dedicated office headed by a Chief Economist. This office will focus on providing expert economic advice and conducting research to inform regulatory actions, thereby improving market oversight and efficiency.

Relevant Companies

None found.