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☆ U.S. House Financial Services chair urges confidence, says financial agencies acting within law
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +3 min

The FDIC is doing what the FDIC is supposed to do in conformance with the law," Representative Patrick McHenry told CNBC, adding Americans should "have confidence in their financial system." "You have the decisions of the institution, and you have decisions of the supervisors," the Republican committee chairman told Punchbowl late on Monday after briefing Republicans on the matter. His administration stepped in over the weekend to shore up the banks, with the FDIC taking over receivership. Biden also vowed new bank rules after regulations enacted after the 2008 financial crisis were rolled back under former Republican President Donald Trump. The panel's ranking Democrat, Maxine Waters, on Monday urged bipartisan work to ensure the stability of the financial system.

☆ U.S. House Financial Services chair to seek documents, hold hearing amid bank collapses -report
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, March 14 (Reuters) - The head of the U.S. House Financial Services Committee said he would request documents and hold a hearing after the collapse of two U.S. banks raised concerns about the banking sector and roiled world markets, according to a media report on Tuesday. McHenry spoke after briefing Republicans, who control the House of Representatives, about the weekend collapse of Silicon Valley Bank and Signature Bank, which continued to weigh on investors on Tuesday. "They currently have the tools, and they‘ve used them appropriately to resolve two banks," McHenry said. Biden also vowed new bank rules after regulations enacted after the 2008 financial crisis were rolled back under former Republican President Donald Trump. The panel's ranking Democrat, Maxine Waters, on Monday urged bipartisan work to ensure the stability of the financial system.

☆ The FBI is warning that House lawmakers and hundreds of their staff had their personal information stolen due to a data breach at an online health insurance marketplace
▼ + stars: | 2023-03-09 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +3 min

DC Health Link is the District of Columbia's health insurance marketplace. A data breach at DC Health Link may have exposed thousands of enrollees' personal information. Information for hundreds of House members and staff was also stolen, according to a memo. The FBI notified Szpindor that the "account information and (Personal Identifiable Information) of hundreds of Member and House staff were stolen" during that breach. To enroll, lawmakers and their staff rely on DC Health Link to choose their specific plans.

☆ Senate GOP Leader Mitch McConnell has been hospitalized after a fall at a hotel in Washington, D.C.
▼ + stars: | 2023-03-09 | by ( Matthew Loh | ) www.businessinsider.com time to read: +1 min

Senate Minority Leader Mitch McConnell was hospitalized after a fall on Wednesday evening. McConnell was at the Waldorf Astoria when he tripped and fell, per Punchbowl News' John Bresnahan. "This evening, Leader McConnell tripped at a local hotel during a private dinner. The GOP leader in 2019 fractured his shoulder after tripping on the patio of his Kentucky residence. McConnell was born in February 1942, and is one of the oldest lawmakers in the US Senate.

☆ Senate Minority Leader Mitch McConnell hospitalized after falling
▼ + stars: | 2023-03-09 | by ( Liz Brown-Kaiser | ) www.cnbc.com time to read: +1 min

Sen. Joni Ernst (R-IA) and Sen. John Thune (R-SD) look on as Senate Minority Leader Mitch McConnell (R-KY) speaks during a news conference following a closed-door lunch meeting with Senate Republicans at the U.S. Capitol January 31, 2023 in Washington, DC. Senate Minority Leader Mitch McConnell, R-Ky., was hospitalized after tripping at a hotel, a spokesperson said Wednesday. "This evening, Leader McConnell tripped at a local hotel during a private dinner. He was Senate majority leader until early 2021. He was Senate majority leader from 2015 until early 2021, when Democrats took over in the majority after the 2020 elections.

☆ Democrats are venting over Biden's 'very infuriating' position on DC crime law
▼ + stars: | 2023-03-03 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +4 min

Democrats are "disappointed" and angry with Biden's position on a GOP move to block a DC crime law. "If the President supports DC statehood, he should govern like it," tweeted Rep. Alexandria Ocasio Cortez. "If the President supports DC statehood, he should govern like it," she tweeted. The resolution's passage would mark the first time the federal government has voted to overrule DC legislation in decades and undermines the campaign for DC statehood. Asked about Biden's decision, Bowman said police unions are powerful.

☆ Biden fires Trump-appointed Architect of the Capitol Brett Blanton after alleged misconduct, White House says
▼ + stars: | 2023-02-13 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +3 min

President Joe Biden fired the Architect of the Capitol, the White House said Monday. "After doing our due diligence, Mr. Blanton's appointment as Architect of the Capitol was terminated at the President's direction," the official said in a statement. Blanton's dismissal follows a report from the Inspector General's office accusing Blanton of misusing a government vehicle and impersonating a police officer. In a February 13 letter to Blanton obtained by Punchbowl News, a White House official wrote that Blanton's appointment would be terminated by 5 p.m. at Biden's direction. The Architect of the Capitol is responsible for facilities, maintenance, and operation of the US Capitol, among other things.

☆ Is It Too Late to Save Chicago From Progressive Misrule?
▼ + stars: | 2023-02-11 | by ( Collin Levy | ) www.wsj.com time to read: 1 min

The Windy City is in unusually bad shape. Crime is up but the statistics don’t capture Chicagoans’ true concern about the collapse of public order. Taxes are high, pensions are underfunded, businesses are leaving, and unions are gaining unprecedented power in a city they already dominate. One candidate wants a tax on the suburbs; another proposes a “public bank.” But the issue that really matters is crime. Voters want to know: Is anyone here going to save the city from its slow-motion demise?

WASHINGTON — House Speaker Kevin McCarthy said he had a "very good discussion" with President Joe Biden at the White House on Wednesday about the looming debt ceiling and federal spending. The White House readout of the meeting reflected McCarthy's sentiments, stating the two had a "frank and straightforward dialogue" as part of an ongoing conversation. "It is their shared duty not to allow an unprecedented and economically catastrophic default," the White House statement read. The House speaker later said the meeting had gone better than he expected. The White House said the president agrees that addressing the national debt is a priority, but it should be a separate conversation.

☆ The Fed slows down its interest rate hikes again as inflation continues to cool and recession fears loom
▼ + stars: | 2023-02-01 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The Federal Reserve raised interest rates 25 basis points on Wednesday. This announcement comes on the heels of data showing inflation cooling down in the country. On Wednesday, the Federal Reserve announced it is raising interest rates by 25 basis points, marking a slowdown from its December hike of 50 basis points. The Fed's continued actions to slow its interest rate hikes is a promising sign for those concerned about a recession this year. But some Democratic lawmakers have been cautioning Powell on the risks of continuing to raise interest rates because it could lead to a recession.

As speaker, McCarthy has the authority to choose a chairman and Republican members of the panel. Jeffries, as minority leader, can nominate Democrats to serve on the panel, but McCarthy has the power to reject them. He has specifically targeted Schiff and Swalwell who played a major role in the impeachments of former President Donald Trump. Those actions angered McCarthy and for months he has vowed to block Schiff and Swalwell from the Intelligence panel. As recently as Jan. 12, McCarthy told reporters he would not seat Schiff and Swalwell who regularly antagonize McCarthy during cable news appearances.

☆ Hakeem Jeffries tells Kevin McCarthy that it's a 'double standard' if 'serial fraudster' George Santos serves on committees but Schiff and Swalwell get kicked off of the intelligence committee
▼ + stars: | 2023-01-23 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +3 min

Hakeem Jeffries is arguing that Reps. Schiff and Swalwell should be kept on the intelligence committee. The House Democratic leader sent a letter to Speaker Kevin McCarthy on Saturday making the case. He pointed out that George Santos has been "welcomed" by the GOP despite being a "serial fraudster." "The apparent double standard risks undermining the spirit of bipartisan cooperation that is so desperately needed in Congress." "It does not serve as precedent or justification for the removal of Representatives Schiff and Swalwell, given that they have never exhibited violent thoughts or behavior," he wrote.

☆ McConnell says he's 'got better things to do with my time' than pay attention to Trump criticizing him
▼ + stars: | 2023-01-17 | by ( Oma Seddiq | ) www.businessinsider.com time to read: +3 min

"I've got better things to do with my time," McConnell told a local radio station. "I've got better things to do with my time," McConnell told Kentucky local news radio 840 WHAS, according to Punchbowl News' Andrew Desiderio. Trump recently decried McConnell over his support for a bill that would keep the government funded through September. "Actually, it's quite an honor," McConnell once said of Trump's "Old Crow" insult. McConnell on Tuesday told the local radio station, "I hope we nominate someone who can win."

☆ Alexandria Ocasio-Cortez says Democrats would 'all be unconscious' if they took shots every time Kevin McCarthy lost a Republican vote for speaker
▼ + stars: | 2023-01-04 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +2 min

GOP Rep. Kat Cammack suggested Democrats were drinking as Republicans struggled to elect a speaker. "If Dems took a shot every time McCarthy lost a Republican, we'd all be unconscious by now," she tweeted. "If Dems took a shot every time McCarthy lost a Republican, we'd all be unconscious by now." Ocasio-Cortez was responding to a tweet from Punchbowl News' Jake Sherman about a comment from GOP Rep. Kat Cammack, of Florida, who nominated Republican Leader Kevin McCarthy for House speaker. Neither do actual members of the House of Representatives, until a House speaker can be elected and the members then sworn into office.

☆ Miami Mayor Francis Suarez voted for DeSantis in 2022 after supporting his Democratic opponent 4 years ago and not voting for Trump in 2020
▼ + stars: | 2022-12-29 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +5 min

Miami Mayor Francis Suarez voted for DeSantis for governor after supporting his challenger in 2018. Ron DeSantis' victory in Miami-Dade County included support from at least one high-profile politician who didn't vote for him four years ago: Miami Mayor Francis Suarez. In 2018, Suarez, a Republican, voted for DeSantis' Democratic challenger, then-Tallahassee Mayor Andrew Gillum. Miami mayor Francis Suarez Lynne Sladky/APSuarez has been forthcoming about certain areas in which he and DeSantis disagree. Suarez told Punchbowl News in October that he'd consider a presidential run, but told Insider on Wednesday that he wasn't close to making a decision.

☆ Privacy and crypto will likely lead tech policy under split Congress as hope for passing ambitious antitrust reforms dwindles
▼ + stars: | 2022-12-27 | by ( Lauren Feiner | ) www.cnbc.com time to read: +9 min

After what started as a hopeful year for tech policy, the 117th Congress is about to close out its term with many key efforts tabled. That's the case with privacy legislation, where a bill proposed this year gained bipartisan support, passing out of a House committee with a near-unanimous vote. The pair blamed the bills' failure to advance on intense lobbying efforts by the tech industry against them. One prominent bipartisan bill in the Senate would put the CFTC in charge. "But the importance of tech policy issues will still be strong."

As the Federal Reserve, European Central Bank, Bank of England and other Western central banks to varying degrees drained the liquidity punchbowl this year by raising rates and initiating quantitative tightening, the BOJ was on the other side with People's Bank of China filling it back up again. Liquidity support for world markets next year was always going to dwindle, but few would have had a possible BOJ halt to asset purchases on their bingo card so soon. ROCKY ROAD AHEADThis year has been one of the worst ever for world markets, hammered by multi-decade high inflation and interest rates across much of the developed world, and a rampant dollar. "The largest expansion of central bank balance sheets in history will give way to the largest contraction in history," they said. The ECB last week laid out plans to stop replacing maturing bonds from its 5 trillion euro ($5.31 trillion) portfolio.

WASHINGTON — Officials in Washington are preparing for a possible visit from Ukrainian President Volodymyr Zelenskyy on Wednesday, according to five sources familiar with the planning. Zelenskyy could address a joint session of Congress on Wednesday evening, three sources said. A European official also familiar with the planning confirmed that preparations are underway for a potential visit Wednesday. House Speaker Nancy Pelosi, D-Calif., suggested members attend Wednesday's session in person in a letter to colleagues Tuesday. Weeks after the war got underway in March, Zelenskyy made an emotional virtual address to Congress asking for support with more aggressive measures to curb the conflict.

☆ Zelenskyy is set to visit the US Capitol, which would mark his first time leaving Ukraine since Russia invaded
▼ + stars: | 2022-12-20 | by ( John Haltiwanger | ) www.businessinsider.com time to read: +3 min

Zelenskyy is expected to visit the US Capitol on Wednesday. House Republicans have increasingly expressed opposition to continued aid to Ukraine. The trip could potentially be cancelled for security reasons, per Punchbowl, which cited multiple sources familiar with the visit. Zelenskyy was widely praised for refusing to flee Ukraine in the early days of the war, when Kyiv was expected to quickly fall. The US has provided billions in crucial security aid to Ukraine amid Russia's ongoing aggression, but House Republicans have increasingly expressed opposition to continued US assistance to Ukraine — citing economic concerns.

☆ Zelenskiy may visit Washington to meet Biden, congressional leaders- sources
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +2 min

Punchbowl News first reported the possible trip, which would be Zelenskiy's first known visit outside Ukraine since Russia launched its assault on the country on Feb. 24. Zelenskiy is expected to meet congressional leadership and national-security committee chiefs from the Republican and Democratic parties and could address a joint session of Congress, Punchbowl reported earlier. Zelenskiy made a surprise trip to troops in the battered eastern frontline city of Bakhmut, underlining Russia's stuttering but persistent attempts to capture it. Zelenskiy last left Ukraine for the Munich Security Conference on Feb. 19, according to his official schedule. Her office did not immediately respond to a request for comment on the reported visit by Zelenskiy.

☆ White House and Congress prepare for possible visit from Ukrainian President Volodymyr Zelenskyy, sources say
▼ + stars: | 2022-12-20 | by ( Chelsey Cox | ) www.cnbc.com time to read: +1 min

Ukraine's President Volodymyr Zelenskyy speaks with U.S. President Joe Biden via phone, as Russia's attack on Ukraine continues, in Kyiv, Ukraine December 11, 2022. White House and congressional security officials were laying the groundwork for a possible visit Wednesday from Ukrainian President Volodomyr Zelenskyy, five other sources familiar with the planning told NBC News. The Ukrainian president, who is currently the target of Russian forces amid its brutal assault on his country, could address lawmakers during a joint session of Congress in the House chamber, they said. U.S. House Speaker Nancy Pelosi, D-Calif., confirmed to NBC News that she invited Zelenskyy to D.C., but she wouldn't say whether he was coming. An official representing the Ukrainian embassy in Washington, D.C. told CNBC they are aware of reports but cannot confirm Zelenskyy's visit.

☆ House probe of Jan. 6 pro-Trump riot is cooperating with DOJ special counsel, reports say
▼ + stars: | 2022-12-20 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +3 min

The member of the U.S. House Select Committee investigating the January 6 Attack on the U.S. Capitol hold their final public meeting on Capitol Hill in Washington, U.S., December 19, 2022. The committee started sending special counsel Jack Smith documents and transcripts last week, Punchbowl News reported earlier. The DOJ has also received Meadows' text messages, along with witness transcripts related to an Eastman-backed scheme to try to appoint pro-Trump electors in key states in the 2020 election, Punchbowl reported. Spokesmen for the select committee and the DOJ did not immediately respond to CNBC's requests for comment. Smith is also tasked with investigating potential violations related to Trump's removal of hundreds of documents from the White House, including some bearing classified markings.

☆ Pelosi backs adding TikTok government device ban to funding bill
▼ + stars: | 2022-12-16 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, Dec 16 (Reuters) - U.S. House Speaker Nancy Pelosi supports adding legislation passed by the Senate this week, which would bar federal government employees from using Chinese-owned TikTok on government-owned devices, to a government funding bill. It was the latest action by U.S. lawmakers to crack down on Chinese companies amid national security fears that Beijing could use them to spy on Americans. Many federal agencies, including the White House and the Defense, Homeland Security and State departments, already ban TikTok from government-owned devices. If the House approves its TikTok provision, the Senate would have to add a similar ban to its version of the spending bill before sending it on to President Joe Biden for his signature. White House spokeswoman Karine Jean-Pierre on Thursday declined to say whether Biden would support TikTok legislation.

☆ Wall Street sees past Fed's lower rate hike to finish in red
▼ + stars: | 2022-12-14 | by ( Lawrence Delevingne | ) www.reuters.com time to read: +4 min

[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, December 8, 2022. While the dollar index initially jumped on the Fed news, trading was choppy and was last down nearly 0.5% on the day. European stocks were flat, with the continent-wide Stoxx 600 (.STOXX) down 0.02% after rising 1.3% in the previous session. "Rather it is dot plot expectations that the Fed will hold rates throughout 2023, and not begin rate cuts until 2024." U.S. Treasury yields were little changed to slightly lower in choppy trading after the Fed news.

☆ Fed hikes rates by 50 bp, as expected, keeps hawkish tone
▼ + stars: | 2022-12-14 | by ( Reuters Staff | ) www.reuters.com time to read: +8 min

STORY: STATEMENT TEXT:MARKET REACTION:STOCKS: The S&P 500 turned sharply lower then steadied down 0.11%BONDS: Benchmark 10-year note yields rose then backed off to 3.4847%. CHRIS ZACCARELLI, CHIEF INVESTMENT OFFICER, INDEPENDENT ADVISOR ALLIANCE, CHARLOTTE“The Fed is taking away the punchbowl just as the party was getting started. They’re reiterating their forecasts but the whisper number was that the Fed was going to stop at a 4.5%-4.75% terminal rate. You know, the biggest thing that is holding the Fed back right now are the jobs numbers. The most dovish participants is looking for an extra 50 bps of hikes.

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