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September 18, 2023 | The American Prospect
Activists are pushing Fed vice chair Michael Barr and his deputy Kevin Stiroh to force the financial sector to take climate change seriously.
August 29, 2023
Press Release: Revolving Door Project Decries Fed’s Lack Of Action On Climate Risk Mitigation At Jackson Hole Summit, Calls For Immediate Change Of Course
At the conclusion of the Kansas City Fed’s annual Jackson Hole Economic Symposium, Revolving Door Project Senior Researcher Kenny Stancil and Research Assistant Henry Burke released the following statement:
August 24, 2023 | The American Prospect
In advance of his Jackson Hole speech, the Fed chair has neglected his role of ensuring the safety and soundness of banks with substantial fossil fuel assets.
August 17, 2023 | The American Prospect
As long as one party remains totally united behind a man who attempted to overthrow the government by force, was the most corrupt president in American history, and undermines the public’s faith in elections at every turn, the future of American democratic self-government is at risk.
Sounds scary. But what if I told you this was a great opportunity for fun and profit? Silicon Valley–backed startup Kalshi is attempting to expand the amount of gambling on the country’s elections with the introduction of an “event contract” centered around congressional elections. Simply put, the firm aims to allow traders to bet on the event: Which party will win control of Congress?
July 14, 2023
If we were to agree to the industry’s demand that policy experts should be precluded from regulating issues they have spent significant amounts of time developing expertise in, we would be setting a precedent that severely undermines any kind of public-minded enforcement. In fact, banning experts such as Gensler would leave the public with a pool of potential regulators who are either already corporate-aligned or unqualified to adequately opine on pressing issues.
July 07, 2023
The crackpot former Trump lawyer, who is facing disbarment for trying to overturn the 2020 election, wants to help Big Business rip you off.
July 07, 2023 | The American Prospect
Despite this, Janet Yellen’s Treasury Department has yet to formalize the regulations that would usher in this new reporting regime. The initial expectation was to have Treasury provide the new guidance by the end of 2022, allowing reporting changes to begin with transactions completed in 2023. However, despite approval of the proposed regulations by the Office of Information and Regulatory Affairs in February (the usual stumbling block in this sort of proceeding), the department has yet to publish the regulations.
May 10, 2023
The March 2023 collapse of Silicon Valley Bank (SVB) — aside from foregrounding the hypocrisy of neoliberal pundits and libertarian venture capitalists alike — spotlighted the instability of the cryptocurrency industry’s most ostensibly stable offering. Hidden within the uncertainty of SVB’s fate following a $42 billion withdrawal frenzy was a similar crisis of confidence for Circle Internet Financial and its stablecoin, USD Coin (USDC).
April 28, 2023
One glaring blind spot does jump out: the complete absence of the names ‘Quarles,’ ‘Barr,’ ‘Powell,’ or any other actual member of the Federal Reserve Board of Governors from the main text of the report.”
April 26, 2023
The Fed report is being written by Vice Chair for Supervision Michael Barr, whose own failures ought to be among the report’s focuses.