Barack Obama to introduce earlier announced plan to restructure the Fed

Far-reaching reform of financial-market supervision is expected to be introduced by President Barack Obama on Wednesday. The projected reform is aimed at changing the powers of the Federal Reserve.

It is expected that Obama would call for allowing the Fed to supervise the biggest financial players and to give the government the power to unwind and break up systemically important companies. Furthermore, the creation of a new regulator for consumer-oriented financial products will be sought by the President, but short of calling for a complete consolidation of regulatory power would be stopped. 

Projected reform’s prickly issues are expected to be taken by lawmakers. Particularly, the creation of a financial system that will not relieve companies under pledge when they collapse is one of the most important issues to be considered.