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The Future of Digital Currency

The Monetary Policy and Trade Subcommittee met today to examine the extent to which the United States government should consider cryptocurrencies as money, and their potential effect on domestic and foreign economies. The Subcommittee also evaluated the merits of any uses by central banks of cryptocurrencies to better understand the future of both digital currencies and physical cash. “Today, the subcommittee examined the potential impact of digital currency on the future of our financial system...

Hensarling Statement on Bipartisan Short-Term NFIP Reauthorization Plan

WASHINGTON – Financial Services Committee Chairman Jeb Hensarling (R-TX) released the following statement regarding the reauthorization of the National Flood Insurance Program (NFIP), which is set to expire at the end of the month absent Congressional action. “It has been more than eight months since the House did its job and passed a long-term NFIP reauthorization. And yet the NFIP remains – and its policyholders remain – just as much in danger today as they did last year. “Flooding in the Unit...

Chairman Hensarling Delivers Opening Statement at Hearing with the Federal Reserve Chairman

Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement at today’s full committee hearing with the Federal Reserve Chairman Jerome Powell on monetary policy and the state of the economy: As we meet today, thanks to the fiscal policies of the Trump Administration and this Congress, many Americans are seeing the strongest economy of their lifetimes. Most importantly, 3 percent average economic growth is back. 90 percent of Americans are seeing bigger p...

House Passes Bipartisan “JOBS & Investor Confidence Act”

WASHINGTON – In a near unanimous vote of 406-4, today the House passed the bipartisan “JOBS and Investor Confidence Act of 2018.” The bill – which is comprised of 32 individual pieces of legislation that have passed the Financial Services Committee or the House this Congress with broad bipartisan support – was the third and largest installment of “Jumpstart Our Business Startups (JOBS) Act” legislation aimed at helping small businesses, entrepreneurs and investors by reforming our capital market...