and are introducing a bill today that would push the U.S. to support Taiwan’s admission as a member of the IMF
Follow
Zach Warmbrodt
@Zachary
Politico financial services editor. zwarmbrodt@politico.com zachary.warmbrodt@protonmail.com
Washington, DCJoined February 2007
Zach Warmbrodt’s Tweets
told that the CFTC should have a bigger say in M&A involving derivatives trading platforms. She’s concerned about FTX’s plans to sell off LedgerX
1
1
1
Show this thread
, incoming oversight chair at House Financial Services, told that he plans to press New York Stock Exchange for information on the glitch that disrupted trading Tuesday. “We’re preparing a letter.”
1
1
Show this thread
says her “main focus” when it comes to crypto legislation is her anti-money laundering bill with . She says regulators already have tools to protect consumers but current law “holds up a giant sign over crypto that says, money laundering done here.”
1
1
3
Show this thread
Today’s Morning Money is packed with exclusives: A Q&A with , a scoop on one of the House GOP’s first Financial Services oversight targets and FTX news from the CFTC
1
1
5
Show this thread
👇Econ and fin reg folks, follow Eleanor and send her news tips!
Quote Tweet
Some 
personal news today, which also happens to mark my 5th year at @POLITICO: I’m in the process of transitioning onto a new beat covering Congress for @POLITICO and @POLITICOPro’s economic policy teams. (1/5)
personal news today, which also happens to mark my 5th year at @POLITICO: I’m in the process of transitioning onto a new beat covering Congress for @POLITICO and @POLITICOPro’s economic policy teams. (1/5)Show this thread
2
Hill says a stablecoin bill is a logical place to start for crypto legislation BUT he says the FTX collapse means lawmakers are now coming at the issue with many different viewpoints. The Senate is also more engaged
1
1
Show this thread
Today’s Morning Money has a Q&A with , the incoming chair of the House digital assets and fintech subcommittee. He sees potential in blockchain tech but has some skepticism about crypto
1
5
5
Show this thread
In today’s Morning Money, McHenry catches flak from the right for “woke ESG agenda“ and a new group representing bank-fintech partnerships names former PPP overseer as its CEO
1
2
3
New: The board refused to endorse a proposed bill that would allow states to stop doing business w/companies deemed to be boycotting fossil fuels. Second time ALEC has declined to adopt such a proposal as model policy, signaling a crack within the anti-ESG movement.
2
27
39
“For your X date calculations,” YPFS’s “has found $14 billion ‘parked uselessly on the Fed balance sheet’ that Treasury could use as headroom to avoid a default.”
withoutwarning.substack.com/p/debt-ceiling
Quote Tweet
Today’s Morning Money has fresh reporting on the debt limit fight from an all-star team. @vtg2 digs into Treasury market fragilities. @morningmoneyben goes behind the scenes at the White House. politico.com/newsletters/mo
1
1
To be clear, Democrats are mad at McHenry for scrapping the diversity subcommittee. Some background on McHenry's decision from our interview last week:
Show this thread
Patrick McHenry's getting criticism the right for how he's handling diversity and inclusion issues at House Financial Services. FreedomWorks says his decision to make D&I part of each FS subcommittee -- which he did after eliminating the dedicated D&I panel -- is "woke ideology"
3
1
2
Show this thread
Former President Donald Trump issued a warning to Republican lawmakers on Friday: Don’t lay a finger on entitlement programs as part of the debt ceiling showdown with the White House.
2
2
Today’s Morning Money has fresh reporting on the debt limit fight from an all-star team. digs into Treasury market fragilities. goes behind the scenes at the White House.
6
4
NEW: Sen. is ramping up her 2024 reelection bid by reaching out to current and former aides to discuss campaign strategy, per person familiar w/ convos.
She also told GBH she's planning a formal announcement "sometime soon." politi.co/3GY6LwI #mapoli
5
11
43
Congress will have a shorter-than-expected window to negotiate a debt limit increase thanks to policy decisions by the Biden administration and the Fed. More on the factors weighing on the “X date”, from and me:
14
8
8
In today's Morning Money, the regulator for the largest banks in the U.S. has a plan to potentially break them up. But lenders aren't worried, and industry watchdogs don't think the agency is being aggressive enough
5
I sat down with the U.K. Treasury’s as he swung through Washington for a round of meetings with U.S. officials. We talked about the U.K.’s upcoming revamp of financial regulations and the government’s pitch to Wall Street firms.
2
5
5
In today’s Morning Money, Wall Street’s case for why a debt limit breach wouldn’t be an economic calamity and could end up being a win for Republicans
1
3
2
Yellen told Congress that "it is unlikely that cash and extraordinary measures will be exhausted before early June" politi.co/3khdgTC via
3
1
Yellen said it's unlikely that cash and extraordinary measures will be exhausted before early June.
1
Show this thread
The U.S. is expected to hit the debt limit next Thursday, forcing Treasury to start using extraordinary measures to avoid a default
1
6
Show this thread
Quote Tweet
Tweetbot and other clients are experiencing problems logging in to Twitter. We’ve reached out to Twitter for more details, but haven’t heard back.
We’re hoping this is just a temporary glitch and will let you know more as soon as we know more.
2
Morning Money has a deep dive into ’s Financial Services Committee revamp. His first big challenge was doling out contested subcommittee gavels. He’s enforcing GOP term limits even if it means disappointing some of his members
1
3
6
House Republicans will establish a new subcommittee dedicated to cryptocurrency this Congress, a move that puts oversight and legislation around the ailing industry high on the GOP agenda.
21
21
35
The latest from and me on ‘s plans for revamping the Financial Services Committee, including a big shakeup of his leadership team
1
3
McHenry’s other big Fin Serv shakeup is that he’s scrapping the Maxine Waters diversity and inclusion subcommittee but instead making that set of issues an explicit agenda item under all the other subcommittees. He says Democrats “should view that as a big win.”
1
Show this thread
McHenry faced a dilemma in doling out subcommittee gavels, which are important for ambitious lawmakers. He promoted Wagner and Barr to chair subs long led by Huizenga and Luetkemeyer, rejecting pressure to waive GOP term limits and let the latter keep serving. It’s a big shakeup.
1
2
1
Show this thread
The Financial Services subcommittee on digital assets, financial technology and inclusion will focus on setting rules for crypto and “developing policies that promote financial technology to reach underserved communities.”
1
3
2
Show this thread
On we have an interview with McHenry about how he’s reorganizing the Financial Services committee and how he assigned top lieutenants in what was a contentious scramble for gavels
1
1
Show this thread
McHenry’s other Fin Serv subcommittee chairs:
- Ann Wagner - Cap Markets
- Andy Barr - Financial Institutions & Monetary Policy
- Luetkemeyer - Nat Sec, Illicit Finance, International Financial Institutions
- Huizenga - Oversight & Investigations
- Davidson - Housing & Insurance
1
2
1
Show this thread
NEWS: House Financial Services Chair tells and me that he’s creating a digital asset subcommittee that will be chaired by
2
13
17
Show this thread
Federal Reserve Chair Jerome Powell is locked in a battle with stock market investors, who can’t wait to celebrate the gradual easing of inflation. His message: Stop it.
6
11
Half the House GOP took office after the 2018 midterms, never having served in majority till now. No one in l'ship ever ran a committee.
This new majority is really .. green.
Quote Tweet
Your midweek @PKCapitol column: As hard liners took power from speaker’s office, they handed it to a very inexperienced crop of GOP committee chairs - 8 have less than 10 years in Congress.
washingtonpost.com/politics/2023/
6
24
69
Dems to Tester and Manchin: Run in 2024, save our majority
- Ds asking them to run again, NRSC launching ads
- Sherrod says Tester wants to run but also has worst commute
- Former Tester campaign manager Roberts staying at DSCC
politico.com/news/2023/01/1
8
42
203
Show this thread
Sources tell the new Republicans on House Financial Services will be:
-- Young Kim
-- Dan Meuser
-- Scott Fitzgerald
-- Byron Donalds
-- Andrew Garbarino
-- Mike Flood
-- Mike Lawler
-- Erin Houchin
-- Zach Nunn
-- Monica De La Cruz
-- Andy Ogles
1
5
5
Show this thread
“In all the previous debt ceiling episodes … I could see a landing zone for how it gets resolved,” State Street’s says in today’s MM. “Here, I don’t see that yet, and it makes me quite uncomfortable.”
4
1
The worst piece I’ve ever had to write, an unexpected and much-too-soon obituary for my friend and colleague :
152
695
2,874