Summary of H.R. 7488: To create an Office of the Chief Economist at the Commodity Futures Trading Commission

Overview

This bill, introduced in the House of Representatives on February 11, 2026, seeks to establish an Office of the Chief Economist within the Commodity Futures Trading Commission (CFTC). The main purpose of this legislation is to enhance the CFTC's economic analysis capabilities and provide the agency with dedicated resources to study the potential economic impacts of its policies and regulations.

Key Provisions

• Establishes an Office of the Chief Economist within the CFTC, to be headed by a Chief Economist appointed by the CFTC Chairman.
• Requires the Chief Economist to:
  • Provide independent economic analysis and advice to the CFTC on proposed rules, regulations, and other actions.
  • Conduct ongoing research and analysis on the state of the derivatives markets and their participants.
  • Assess the potential economic costs and benefits of CFTC initiatives.
  • Collaborate with the CFTC's Division of Market Oversight and Division of Clearing and Risk.
• Mandates that the Chief Economist submit annual reports to Congress on the state of the derivatives markets and the CFTC's economic analysis activities.

Potential Impact

• Strengthens the CFTC's ability to evaluate the economic implications of its regulatory decisions, potentially leading to more informed and effective policymaking.
• Provides the CFTC with dedicated resources and expertise to monitor and analyze trends in the rapidly evolving derivatives markets.
• Enhances transparency by requiring the Chief Economist to report annually to Congress on the agency's economic analysis work.
• Could help the CFTC better anticipate and mitigate potential market disruptions or unintended consequences of its actions.

Procedural Aspects

• The bill was introduced in the House of Representatives on February 11, 2026 and has been referred to the House Committee on Agriculture for further consideration.
• If passed by the House and Senate, and signed into law by the President, the Office of the Chief Economist would be required to be established within 180 days of the law's enactment.