News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Fed's George Still Sees Need for Gradual Rate Rises

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Kansas City Fed President Esther George again called for gradual increases to short-term interest rates, saying such moves should help foster sustainable growth and financial stability.

Fed's Fischer Says Tools to Deal With Financial Imbalances Are Limited

Federal Reserve Vice Chairman Stanley Fischer warned that "a major concern of mine is that the U.S. macroprudential tool kit is not large and not yet battle-tested."

GOP Tax Overhaul Aims for Corporate Cuts, Simpler Code

A sweeping Republican plan to overhaul the U.S. tax code proposes to sharply reduce tax rates on businesses and many individuals- kicking off an effort by President Donald Trump and congressional leaders to build momentum for a challenging legislative push in the months ahead.

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CFTC Names SEC Official to Top Clearing Post

The Commodity Futures Trading Commission has hired longtime Securities and Exchange Commission official Brian Bussey as its director of clearing, a top post overseeing clearinghouses and major derivatives-market participants.

Got it Covered: China's First Online-Only Insurer Pops in Market Debut

Shares of China's first online-only insurer rose strongly in its market debut in Hong Kong on Thursday, with ZhongAn Online P&C Insurance Co. providing a boost to what's been a muted year for initial public offerings there.

Morgan Stanley Chief Says Firm's Brokers Will Maintain Key Position

Morgan Stanley, with its large investment bank and wealth management business, has been cool on the idea that roboadvisers will upend the brokerage business that generates about half of its revenue.

Gradual Rate Increases Are Right Path, Fed's Rosengren Says

Federal Reserve Bank of Boston leader Eric Rosengren said Wednesday additional rate rises are necessary to prevent the economy from overheating.

St. Louis Fed's Bullard Says Rates Should Stay Right Where They Are

St. Louis Fed President James Bullard said short-term interest rates are where they should be, given dim prospects for a significant rebound in economic growth or a surprise boost in inflation this year.

High-Net-Worth Individuals Ride Stock Rally to Strong Growth

The ranks of the richest individuals expanded globally at a faster rate in 2016 than the prior year, according to a new report, a finding that comes as wealth managers grapple with client concerns over fees and services.

U.S. Bank Regulators Propose Changes to Capital Rules

U.S. regulators proposed to modify bank capital rules affecting commercial real-estate loans, mortgage-servicing rights and other areas in a move they said responded to industry concerns.

(END) Dow Jones Newswires

September 28, 2017 11:15 ET (15:15 GMT)