RJ and Makay

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A proposed restriction within the so-called Volcker rule would require U.S. banks to change how their traders are compensated for market-making activities, according to a draft circulating among regulators.  The rule aims to ban most proprietary trading by banks with federally insured deposits but would exempt market-making trades that meet certain standards or principles.

Oil prices are skyrocketing, stocks are plummeting, and Japan is enduring one of the worst nuclear disasters since Chernobyl. But the U.S. Federal Reserve remains steadfast.

Indeed, later today the Fed is expected to maintain its ultra-loose monetary policy even though there's rising concern about the effect of oil prices and Japan's tragedy on the still-fragile economy. And economists are generally on board. It's best for the Fed to do nothing until we fully understand the impact of these latest events, economists assert.

An important finding about the economic expansion that occurred in the U.S. in January and February: It appears to be widespread, taking place all around the country and not just in concentrated pockets, according to the Federal Reserve, which helps gauge the economy by surveying its 12 regional banks and publishing the results in the "Beige Book."

Indeed, all 12 of the Fed's regions reported growth in one or more industries during the first two months of the year, albeit at a modest to moderate pace. However, the pace was such that it suggest increased job creation in each region.