Phil Davis

The US Office of Financial Research's ability to bolster financial stability is being called into question because of limited funding and staffing and because interim leader Kipp Kranbuhl holds an additional temporary role in the Treasury Department. President Donald Trump has nominated Dino Falaschetti, who advocates abolishing the OFR, to be the permanent head, but the Senate has yet to act on the appointment. MLex (subscription required) (21 Feb.)

Commerce Department data suggest the US economic expansion is losing momentum. Orders for capital goods are falling, a slowdown in the sale of business equipment continues and the National Association of Realtors has reported sales of existing homes fell last month to the lowest level since November 2015. Reuters (21 Feb.)

Concerns about damage a no-deal Brexit would cause the UK economy are prompting progress toward a transition agreement, UK Chancellor Philip Hammond says. "My own view is that what is driving the process at the moment is the sense of a deadline," he says. Politico (21 Feb.)