Conaway asks CFTC to release position limits draft report
House Agriculture Committee Chairman Michael Conaway, R-Texas, on Tuesday asked Commodity Futures Trading Commission Chairman Timothy Massad to release the CFTC’s position limits draft report that has been prepared by the agency’s chief economist.
“I have reviewed the document, and I believe it presents a comprehensive overview of the current state of economic research on excessive speculation and an objective analysis of the potential utility of position limits,” Conaway wrote. “Your proposal takes steps towards addressing several of the concerns that have been raised before both this committee and your agency. As stakeholders and market participants review the new language and file their comments, this report, which puts the best economic literature in context, may help clarify what can and cannot be accomplished in the final rule.”
A CFTC spokesman said the agency had just received the letter and would not comment at this time.
–The Hagstrom Report