INTERAGENCY TASK FORCE TO STUDY COMMODITY MARKETS
News Date June 20, 2008
The Commodity Futures Trading Commission (CFTC) announced June 10 the formation of an interagency task force to evaluate developments in commodity markets, in light of the recent rise in crude oil and other commodity prices and the influx of new investors into commodity futures markets.
The task force includes representatives from the CFTC, USDA, the Federal Reserve, the Department of the Treasury, the Securities and Exchange Commission (SEC), and the Department of Energy (DOE). They will examine investor practices, fundamental supply, and demand factors, and study the role of speculators and index traders in the commodity markets.
High commodity prices are posing a significant strain on U.S. households and the CFTC study will help public and regulatory understanding of the forces that are affecting the functioning of these markets. CFTC officials hope to complete its work as expeditiously as possible, and will make public the results. (Contact: Charlie Ingram)