Beer

MillerCoors Wants the Fed to Address Impact Big Banks Have on Commodities

Need aluminum for cans

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The Federal Reserve should toughen oversight of big banks such as Goldman Sachs and JPMorgan Chase due to their negative influence over commodities, including the aluminum in beer cans, brewer MillerCoors will urge on Tuesday.

The maker of popular beers Coors Light and Miller High Life will tell the Senate Banking Committee that financial groups, through their ownership of warehouses, are distorting the aluminum market by controlling how much aluminum flows out of their storage facilities, leading to extra rent and other costs for industrial companies.