Crypto Crash Begs Regs

Update 627 — Crypto Crash Begs Regs:Hill Action as Euphoria Yields to Reality As the House returns today to vote on the Inflation Reduction Act and send it to Biden’s desk, we turn towards a murkier legislative task: regulating cryptocurrencies. Following the flurry of 2022 Super Bowl ads, markets saw a crypto winter of massive …

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IRA Secures 50 Votes, en Route to Passage

Update 626 — Democratic Reconciliation:IRA Secures 50 Votes, en Route to Passage Facing an August recess deadline, Democrats in Congress are on the verge of fulfilling their economic policy promise, bringing a hitherto elusive unity to a reconciliation bill and a Senate floor vote as soon as procedurally possible. The leap forward shows lessons learned: …

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Salvaging Democracy

Update 625 — Salvaging Democracy:A Clarifying Sliver of Election Reform After the eventful news this week, GDP down 0.9 percent in the second quarter, CHIPS passing both chambers, and the new reconciliation package – the Inflation Reduction Act – introduced, we turn to a similarly signal development last week as a bipartisan Senate working group …

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Saying Finito to Fees

Update 623 — Saying Finito to Fees:Overdraft Overhaul Bill Long Overdue Next Wednesday, the House Financial Services Committee will mark up and vote on Rep. Carolyn Maloney’s Overdraft Protection Act of 2021. Maloney, consumer protection advocates, and progressive policymakers have long sought to rein in high and random bank overdraft fees. Per the Consumer Financial …

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Midpoint in Midterms

Update 622 — Midpoint in Midterms:Picture Has a New Hue, But is it Blue? July marks the halfway point in the primaries for the 2022 midterm elections, with 29 states having chosen Congressional nominees. Some say minds are set, the outcome is ordained by history, confirmed by the polls. But the dismal outlook for Democrats …

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COMPETES Hit an Obstruction Named Mitch

Update 621 — COMPETES to Pass Sans HitchHit an Obstruction Named Mitch; Now What? Two weeks ago — amid extensive conference committee deliberations — Sen. Mitch McConnell announced his intention to block bipartisan negotiations on a USICA/COMPETES bill, industrial policy legislation aimed to compete with China, if Senate Democrats continued to pursue a “partisan reconciliation …

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CPI for June up 9.1%

Update 620 — CPI for June up 9.1%But Trends Complicate Inflation Story The CPI report for June, showing a 9.1 percent hike in prices from a year ago, up from 8.6 percent in May, may alarm some and immediately suggests another 75 basis point interest rate by the Fed at its next meeting, July 26-27. …

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