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Evan Vucci / AP

One force thwarting Donald Trump's plan to roll back financial regulations is the regulators themselves. The Wall Street Journal points out that Dodd Frank was written in such a way as to give broad powers to the SEC and the Federal Reserve to implement the law. Even in the case of the SEC—which is more likely to toe the President's line—the regulatory reform process is overseen by the judiciary, now brimming with Obama appointees.

Wall Street is hopeful: Even so, investors are hopeful that the new administration will be able to roll back financial regulations. After Donald Trump ordered an executive review of the Dodd-Frank financial reform law—with the aim of rolling it back, financial sector stocks rose more than 3%. One theory is that eased regulations might allow banks to return more capital to investors.

Greece will need another bailout: According to the International Monetary Fund—its fifth since the start of the debt crisis in 2010. There's no more potent symbol of the failure of the euro than this protracted slump, from which there are few signs of relief.

Go deeper

Updated 33 mins ago - Politics & Policy

Inauguration Day dashboard

Screenshot: Fox News

President Trump has delivered a farewell speech and departed Washington for the last time on Air Force One, kicking off the day that will culminate with President-elect Joe Biden taking office.

What's next: The inaugural celebration for young Americans is being livestreamed, starting at 10am.

Updated 50 mins ago - Politics & Policy

Trump departs on final Air Force One flight

President Trump and his family took off on Air Force One at 9 a.m. on Wednesday morning for the final time en route to Florida.

The big picture: Trump's final hours as president were punctuated by his decisions to snub his successor's inauguration and grant pardons to many of his allies who have been swept up in corruption scandals.

Dion Rabouin, author of Markets
2 hours ago - Economy & Business

Janet Yellen said all the right things to reassure the markets

Illustration: Aïda Amer/Axios

Treasury Secretary nominee and former Fed chair Janet Yellen's confirmation hearing before the Senate Finance Committee on Tuesday showed markets just what they can expect from the administration of President-elect Joe Biden: more of what they got under President Trump — at least for now.

What it means: Investors and big companies reaped the benefits of ultralow U.S. interest rates and low taxes for most of Trump's term as well as significant increases in government spending, even before the coronavirus pandemic.

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