Changing of the HFSC Guard (April 2)

Update 343 — Changing of the HFSC Guard:New Members and Majority on Capital Markets Tomorrow, the House Financial Services Subcommittee that considers bills regulating capital markets activities will do so for the first time this Congress.  Gone are the days when the Subcommittee’s majority pursued a deregulatory campaign to undo Dodd-Frank protections against abuses like …

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Senate Introduces H.R. 1 Companion Bill (March 29)

Update 342: Sen. Companion to HR 1 Dropped, Cosponsored by Entire Democratic Caucus On Wednesday, Sens. Tom Udall and Jeff Merkley introduced S. 949, the “For the People Act,” the Senate companion bill to H.R. 1.  The bill was co-sponsored by the entire Senate Democratic caucus and the two Democratic-leaning independents, Sens. Sanders and King …

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Middle Class Cash & Credit Crunch (March 22)

Update 340: Middle Class Cash & Credit CrunchCase Studies, Problems and Policy Solutions The long-awaited, much discussed, often feared inversion of the yield curve — where long-term yields fall below short-term ones — occurred at about 1 pm ET this afternoon.  As we have discussed, this is a widely recognized harbinger of recession, news that …

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Red Herring from FSOC Gets Hearing at SBC (March 15)

Update 338 — “Activities-Based” Designation: Red Herring from FSOC Gets Hearing at SBC With April Fool’s Day coming up, one might believe a Trump Treasury proposal seeks greater regulatory focus on systemically risky financial activity, were one to read last week’s FSOC proposal (Authority To Require Supervision and Regulation of Certain Nonbank Financial Companies).  But …

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House Passes H.R. 1 by 234-193 (March 8)

Update 336: House Passes H.R. 1 by 234-193 No Ds Dissent; Long March Ahead in Senate Earlier today, the U.S. House of Representatives passed H.R. 1, a comprehensive political reform measure that would greatly expand ballot access, help level the campaign finance playing field, and codify ethics rules across all branches of government.  The vote …

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Fed Chair Powell Cites Concerns, Holds Rates in Place (February 28)

Update 334: Hitting Hill for Humphrey-Hawkins;Powell Cites Concerns, Holds Rates in Place This Tuesday and yesterday, Federal Reserve Chairman Jerome Powell appeared before Senate and House Committees to report, as the Fed Chair does semi-annually, on the state of the economy and monetary policy.  In his July 2018 testimony, Chairman Powell painted a picture of …

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