CFTC's Sommers says position limits could raise consumer costs

10/19/2011 | Bloomberg Businessweek

Jill Sommers, a Republican member of the Commodity Futures Trading Commission, says limits on speculation in the commodity markets could raise costs for consumers. "The likelihood exists that bona-fide hedgers will incur increased costs," Sommers said. "Increased costs for bona-fide hedgers will probably lead to increased costs for consumers -- a result that is at complete odds with the stated goals of Dodd-Frank." Organizations including the International Swaps and Derivatives Association, Barclays Capital and CME Group have opposed the position-limits rule approved by the CFTC this week.

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