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The Latest Breaking News from Senate Banking Committee

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.

Tribune News Service

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.

Benzinga

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.

WEKU

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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

The Independent UK

Senate confirms Brainard as Fed vice chair but COVID-19 trips Democrats on Cook vote - Roll Call

Lisa Cook, who would become the first Black woman to join the Fed board, encountered another obstacle in COVID-19 cases among Democrats.

Roll Call

Who Is Standing In The Way Of Marijuana Legalization? GOP Support For Cannabis Growing Though Slowly

Senate Majority Leader Chuck Schumer (D-NY) recently revealed that in a joint effort with his colleagues, he plans to reach out to Republican senators to find out what "they want" to see included in

Benzinga

Powell and 3 other nominees to Fed posts clear Senate panel

The Senate Banking Committee has approved Jerome Powell’s nomination to a second four-year term as chair of the Federal Reserve

The Independent UK

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This Day In Market History: John Galbraith Congressional Testimony Angers Investors

Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date. What Happened? On March 8, 1955, Harvard economics professor John Galbraith told the Senate Banking Committee the stock market was overheating, sending the Dow crashing 2%.

Benzinga

Senate Republicans threaten to delay vote on Fed nominees

The top Republican on the Senate Banking Committee said that his party’s members will boycott a vote by the panel scheduled for Tuesday afternoon on President Joe Biden’s nominees to the Federal Reserve, potentially delaying confirmation of a second term for Chair Jerome Powell, who is serving in an acting…

The Independent UK

Senate Banking to vote on nominees who would give Fed historic race and gender diversity

President Joe Biden’s effort to build a more diverse, climate-conscious Federal Reserve faces its first hurdle Tuesday as the Senate Banking Committee votes on whether to advance five nominees to the full Senate for consideration.

Tribune News Service

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