WASHINGTON – U.S. Senator Debbie Stabenow (D-Mich.), Ranking Member of the U.S. Senate Committee on Agriculture, Nutrition, and Forestry, today released a statement regarding the Commodity Futures Trading Commission’s (CFTC) reproposed rule on speculative position limits, which protect consumers from irresponsible commodity trading that has caused unnecessary spikes in prices for gas and other products:
“When Wall Street speculators meddle in our markets, consumers pay the price. Almost 10 years have passed since Congress directed the CFTC to curb excessive speculation that has caused Americans to pay too much at the pump. Unfortunately, this proposal fails to add necessary protections for consumers and our markets. I urge the Commission to strengthen the rule.”
###