Editor's Note: This is a monthly publication on economic trends and financial policy issues. In this publication you can read "The Longbrake Letter", an analysis of economic trends and conditions written by Bill Longbrake, as well as commentary on financial regulation and policy written by members of the law firm Barnett, Sivon & Natter, P.C., a Washington, DC based law firm that specializes in financial services law. The lawyers in the firm are also counsel to the international law firm, Squire Patton Boggs.

ISSUE: #68, February 2016

The Longbrake Letter
- Bill Longbrake
In this month's letter, Bill Longbrake explores the possibility of recession commencing some time during the next few months and initiates a “Recession Watch.” In recent weeks several developments emerged more or less at about the same time which spooked global financial markets. Are these developments the forerunner of worse to come, including a U.S. recession? Or, is the market overreacting to “temporary” shocks? Will policymakers be able to defuse anxiety? From the vantage point of the present it's difficult to discern where the U.S. and global economies are headed and just how fragile global financial markets really are. Regardless of whether recession is imminent, substantial global economic and financial imbalances exist. Bill examines these imbalances and comments on how they might evolve and impact the global economy and financial markets.

The Law of Unintended Consequences
- Donald Lamson
Donald Lamson considers a recently adopted Federal Reserve rule that implements a Dodd-Frank restriction on the Fed's authority to conduct bailouts during a period of market tumult. He then compares the situation to historical precedents and wonders whether Congress' action may have unintended consequences by hindering the Fed in the event of the next financial crisis.

CFPB's Limitless Statute of Limitations?
- Katie Wechsler
Questions have been raised recently regarding whether the Consumer Financial Protection Bureau (CFPB)has a statute of limitations for administrative enforcement proceedings. This article examines those questions and their implications.