Chairman of the Commodity Futures Trading Commission, Timothy Massad, announced he will step down when President-elect Donald Trump takes office later this month. Massad has served as CTFC Chairman since June of 2014. Massad could have stayed at the post until April of this year. In a statement marking the announcement, Massad said: “I am grateful to have had the opportunity.” House Agriculture Committee Chairman Michael Conaway, a Texas Republican, thanked Massad in a statement Wednesday. Conaway said: “Tim has given agricultural producers and processors a seat at the table and offered them meaningful input in the rulemaking processes.” The Wall Street Journal Reports Christopher Giancarlo (John-car lo), the CFTC’s sole Republican member, is expected to succeed Massad, at least on an interim basis. Giancarlo is also under consideration to fill the top CFTC role on a permanent basis, according to those close to the Trump transition team.
From the National Association of Farm Broadcasting news service.