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The Latest Breaking News from Senate Banking Committee

Stablecoins First Over Other Crypto Agenda: Senate Hearing On Digital Assets Triggers Frustration

Stablecoins took the spotlight during Wednesday's Senate Banking Committee hearing on digital assets, with Sen. Lummis noting that stablecoins will come first in terms of legislation.

International Business Times

Senate Banking approves Turner for HUD along party lines - Roll Call

The Senate Banking Committee backed former NFL player Eric Scott Turner to become Housing and Urban Development secretary.

Roll Call

Trump Ally Threatens Action If FDIC's Alleged 'Destruction' Of Crypto Choke Point Documents Proven

Sen. Cynthia Lummis said the FDIC has been accused of destroying materials related to Operation Choke Point 2.0, an alleged initiative by the Biden administration in coordination with regulators to block banks' engagement with digital assets.

International Business Times

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'Banks Should Stay Silent,' Crypto Community Lashes Out At Jamie Dimon's Anti-Crypto Tirade

Not everyone was pleased with the latest development in the cryptocurrency industry and Dimon was one among them. He said he would close the industry down if he had the power.

International Business Times

Sen. Gillibrand wants her fellow Democrats to get on board with crypto legislation

Digital asset regulation has become a partisan issue, especially as a government shutdown looms.

Fortune

Stocks Edge Higher, Powell Testimony In Focus, FedEx Earnings, Tesla Boost, Titan Rescue Latest - 5 Things To Know

Stock futures steady as markets eye Powell testimony; Fed Chair Powell faces senate banking committee as markets test rate path; FedEx shares slide after mixed Q4 earnings, muted demand outlook; Tesla extends gains on China EV stimulus, Texas charging station rules and Titan searchers hear noises as hopes rise for…

The Street

Will US consumers have to bail out struggling banks?

WASHINGTON — Could taxpayers wind up bailing out wealthy customers at banks such as Silicon Valley Bank, Signature Bank and others that are struggling?

McClatchy Washington Bureau

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What Powell's Interest Rate Comments Mean for the Markets

Jerome Powell's testimony in front of the Senate Banking Committee threw markets into sell-off mode on Tuesday as investors digested the possibility of interest rates going higher than previously anticipated in order for the Federal Reserve to get inflation under control.

The Street

Lawmakers are trying to seize the crypto debate back

Can a divided Congress manage to pass legislation?

Fortune

Federal Reserve Chair Jerome Powell warns inflation fight will be long and bumpy

Speaking before the Senate Banking Committee, Powell warned the central bank may have to raise interest rates even more, sending stock markets sharply lower.

WEKU

Fed’s Powell tells senators rate hikes could go higher, come faster

WASHINGTON — Hot inflation data could lead the Federal Reserve to raise interest rates to higher levels and at an accelerated pace, Federal Reserve Chairman Jerome Powell told the Senate Banking Committee on Tuesday.

Tribune News Service

Watch live: Federal Reserve chair Jerome Powell testifies before Senate committee

Watch live as the Federal Reserve chair delivers the semiannual monetary policy testimony before the Senate Banking Committee.

The Independent UK

Stocks Edge Higher, Powell Testimony, Meta Job Cuts, TikTok Ban, Japan Rocket Failure - 5 Things To Know

Stock futures edge higher with Fed in focus; Mr. Powell goes to Washington; Meta making more job cuts; Time's up for TikTok? And Tokyo, we have a problem.

The Street

Senate pressure mounts on Biden to nominate first Latino to Fed - Roll Call

Several Senate Banking Committee Democrats are pushing President Joe Biden to nominate a Latino for the Federal Reserve Board.

Roll Call

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Fortune

‘The nightmare isn’t over yet’: Senate Banking reckons with FTX fallout

In the latest congressional hearing on crypto, senators looked to the future of regulation.

Fortune

What's in Elizabeth Warren’s new crypto bill?

The money laundering-focused legislation could change the entire ecosystem.

Fortune

Star-studded Senate hearing illustrates massive divide over crypto in D.C.

Without Sam Bankman-Fried in attendance, senators focused on the future of the volatile industry.

Fortune

SBF was arrested before a pivotal congressional hearing on FTX’s monumental collapse. Here’s how to watch and what to expect

What questions will lawmakers ask with SBF in custody?

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Fortune

Sam Bankman-Fried will testify before Congress

Uncertainty looms over next week’s hearings on FTX’s collapse.

Fortune

Senate Banking Committee: Sam Bankman-Fried will be subpoenaed if he doesn’t agree to attend FTX hearing

After weeks of waffling, the disgraced FTX founder faces an ultimatum.

WEKU

Wringing its hands over FTX's collapse, Washington hopes to prevent more crypto pain

Congress, which has been unable to pass comprehensive crypto legislation, is digging into what happened as regulators try to police the new, mysterious world of virtual currencies with old laws.

Tribune News Service

Senate bill would boost alternative assets in 401(k) plans

WASHINGTON — A new bill from top Republicans on the Senate Banking Committee aims to open workplace retirement plans to a bigger range of investments, making it easier for 401(k) plans to diversify with holdings in private equity, hedge funds, real estate, cryptocurrencies and other alternative assets.

Benzinga

Jerome Powell Tells Congress The Fed Is 'Moving Expeditiously' To Fight Inflation

Federal Reserve Chair Jerome Powell rehashed the central bank's desire to cool down inflation on Wednesday as part of a congressionally mandated semiannual report on monetary policy.

WEKU

Senate approves Lisa Cook as first Black woman on Federal Reserve board of governors

Cook is only the second of Biden's five nominees for the Fed to win Senate confirmation. His Fed choices have faced an unusual level of partisan opposition.

The Independent UK

Senate approves Lisa Cook as first Black woman to Fed post

The Senate has confirmed Michigan State economist Lisa Cook to serve on the Federal Reserve’s board of governors

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