Merrill Lynch Fined, Trump Close to Selecting Fed Head
Oct 24, 2017, 10:42 AM
Bank of America Merrill Lynch was fined 34.5 million pounds on Monday as the bank didn’t report 68.5 million transactions in a 2-year period. The fine is a first of its kind under EU transparency rules. "It's a pretty chunky fine", says Tim Harrison, Head of Wealth Management at Linear Investments.
While talking about the selection of new a Fed head, Harrison says Yellen has done a good job. He also says credit also goes to Bernanke for steadying the ship, but warns a faster rate hike could derail the economy.
Watch the full segment to know if the car market is the new subprime.
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