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CREDIT MACRO: Trump appoints new FTC Chair

CREDIT MACRO
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Trump has announced the replacement FTC Chair - Andrew Ferguson - a Republican who currently serves on the 5-member committee. Trump will also appoint Mark Meador to the commission giving the republicans a majority 3. Our political analyst sees this as a continuation of the anti-trust theme specific to Tech but perhaps more receptive to M&A outside that.

Lina Khan (the current chair) has had mixed success in court over her 4-year term that saw a hard stance on M&A. She will end it with two wins; one Tapestry bond-holders had to face and the other on Tuesday when the Albertson/Kroger tie-up met a similar fate.

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Trump has announced the replacement FTC Chair - Andrew Ferguson - a Republican who currently serves on the 5-member committee. Trump will also appoint Mark Meador to the commission giving the republicans a majority 3. Our political analyst sees this as a continuation of the anti-trust theme specific to Tech but perhaps more receptive to M&A outside that.

Lina Khan (the current chair) has had mixed success in court over her 4-year term that saw a hard stance on M&A. She will end it with two wins; one Tapestry bond-holders had to face and the other on Tuesday when the Albertson/Kroger tie-up met a similar fate.