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US Senate

Fed will not keep interest rates low for government's benefit, Waller says
World

Fed will not keep interest rates low for government's benefit, Waller says

  • "My goal today is to definitively put that narrative to rest. It is simply wrong. Monetary policy has not and will not be conducted for these purposes."
  • The Fed's board members and the central bank's powerful chief are appointed by the president with approval of the US Senate, but the governors' long terms and protection from partisan dismissals are meant to insulate the central bank from political pressures.
Updated 29 Mar, 2021 08:09pm
Biden considers executive actions on guns, calls on Congress to pass weapons ban
World

Biden considers executive actions on guns, calls on Congress to pass weapons ban

  • U.S. President Joe Biden urged Congress to swiftly pass gun control laws and may take action on his own to stop mass violence, the White House said on Tuesday, a day after the second deadly mass shooting in a week.
  • The Democrat called on the Senate to approve two bills passed by the House of Representatives on March 11 that would broaden background checks on gun buyers. He also called for a ban on assault-style weapons.
Published 24 Mar, 2021 01:42pm
Senate confirms Shalanda Young for No. 2 spot at OMB
World

Senate confirms Shalanda Young for No. 2 spot at OMB

  • White House Chief of Staff Ron Klain earlier this month called Young, a former House staffer, a "very serious candidate" to head the office after the administration withdrew the nomination of Neera Tanden earlier this month.
Published 24 Mar, 2021 11:39am
US Senate committee sees sweeping China legislation in mid-April
World

US Senate committee sees sweeping China legislation in mid-April

  • Lawmakers had hoped to have a vote in the full Senate by mid-April, but Menendez said they needed more time so the two parties could work together.
  • He told a hearing on competing with China that the committee planned to mark up - debate and consider amendments to - the bill on April 14.
Published 17 Mar, 2021 08:49pm
US House readies final vote on Biden's $1.9 trillion COVID-19 package
World

US House readies final vote on Biden's $1.9 trillion COVID-19 package

  • "It's really just a matter of paperwork. But we are going to have a vote as soon as we can," Democratic Representative Katherine Clark, the assistant House speaker, told CNN.
  • The House was still awaiting the Senate version late on Monday. But House Speaker Nancy Pelosi told reporters that lawmakers would "take it up Wednesday morning at the latest."
Published 09 Mar, 2021 08:47pm
Senate begins marathon debate on Biden's $1.9 trillion COVID-19 proposal
World

Senate begins marathon debate on Biden's $1.9 trillion COVID-19 proposal

  • Senate Majority Leader Chuck Schumer thanked Senate staff for enduring the early-morning ordeal and added, "As for our friend from Wisconsin, I hope he enjoyed his Thursday evening."
  • Schumer was referring to Republican Senator Ron Johnson, who insisted that the text of the bill be read aloud.
Published 05 Mar, 2021 09:52pm
Jobless aid, direct checks in play as US Senate nears vote on COVID-19 aid bill
World

Jobless aid, direct checks in play as US Senate nears vote on COVID-19 aid bill

  • The bill would pay for vaccines and medical supplies, boost jobless assistance and send a new round of emergency financial aid to households, small businesses and state and local governments.
  • Before the legislation comes to a final vote, Democrats will have to sort out a welter of competing ideas as they seek to advance the bill.
Published 03 Mar, 2021 07:36pm
Trump impeachment trial could wrap up on Saturday, conviction seen unlikely
World

Trump impeachment trial could wrap up on Saturday, conviction seen unlikely

  • Trump is the first US president to be impeached twice and the first to face trial after leaving office. If convicted, the Senate could then vote to bar him from running for office again.
  • Conviction is seen as unlikely, however, as at least 17 Republicans in the 100-seat chamber would have to join all 50 Democrats to find the former president guilty.
Published 13 Feb, 2021 06:15pm
Biden budget nominee Tanden faces two tough hearings this week
World

Biden budget nominee Tanden faces two tough hearings this week

  • Tanden, 50, will appear at confirmation hearings on Tuesday before the Homeland Security and Governmental Affairs Committee and on Wednesday before the Budget Committee.
  • The Senate is also scheduled on Tuesday to begin the impeachment trial of former President Donald Trump, who is accused of inciting the deadly Jan. 6 assault on the US Capitol.
Published 09 Feb, 2021 05:32pm