Tags: office of financial research | obama | trump | cuts

Obama Finance Agency Faces Cuts by Trump

Obama Finance Agency Faces Cuts by Trump
Treasury Department in Washington. (Bill Clark/AP)

Wednesday, 06 December 2017 11:38 AM

The U.S. Office of Financial Research (OFR) is expected to be hit with "deep budget and staffing cuts," The Wall Street Journal reports.

Sources tell the newspaper the Trump administration informed the agency of the upcoming downsizing during a meeting with senior officials at the Treasury Department last month.

It’s the latest move by President Donald Trump to scale back or eliminate policies enacted by President Barack Obama, who created the OFR following a financial crisis.

The agency, which spends about $100 million annually, is headed by Richard Berner, who will testify before the House Financial Services Committee on Thursday.

The Journal reports that in the agency's annual report issued Tuesday, Berner said it is the "appropriate time to take stock of the OFR," which "must effectively balance achieving an extraordinarily broad mission with efficiency and agility."

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The U.S. Office of Financial Research (OFR) is expected to be hit with "deep budget and staffing cuts," The Wall Street Journal reports.
office of financial research, obama, trump, cuts
138
2017-38-06
Wednesday, 06 December 2017 11:38 AM
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