Market news: The FDIC approved a proposed rule to reform oversight of bank mergers and acquisitions.

美聯儲主席沃什：勞動力市場的狀態是一個實力信號。

China International Capital Co said in a research note that, based on the Fed's recent messaging and current fundamentals, there is no basis for consecutive, sizable rate hikes (three or more) unless oil prices spiral out of control. Rising rates will feed into financial conditions and curb growth, acting as a feedback constraint on further large hikes; the U.S. 30-year mortgage rate is already approaching 7%.