Money
Financial Inclusion and Economic Challenges in the Shadow of the Pandemic: A Conversation with Tribal Leaders Governor Lael Brainard At Fed Listens: Roundtable with Oklahoma Tribal Leaders, Oklahoma City, Oklahoma
"I want to highlight two of the proposals that the Federal Reserve Board (the Board) sought feedback on in the September 2020 Advance Notice of Proposed Rulemaking to strengthen CRA regulations. Recognizing that many places in Indian Country have few bank branches and are located outside of branch-based assessment areas, the Board proposed that a bank in any part of the country could receive credit for eligible CRA activities in Indian Country, even when there is not a branch nearby. Banks need to be confident about receiving CRA credit to seek out activities and investments in these areas." "Here in Oklahoma, when looking at how the economic activity of tribes compares with different industries in the state, tribes would rank 9th in output, at over $7 billion, and 11th in job creation — greater than either the construction or utilities industries."
October 13, 2021
Financial Inclusion and Economic Challenges in the Shadow of the Pandemic: A Conversation with Tribal Leaders
Governor Lael Brainard
At Fed Listens: Roundtable with Oklahoma Tribal Leaders, Oklahoma City… more »
Testimony of Secretary of the Treasury Janet L. Yellen before the Senate Committee on Banking, Housing, and Urban Affairs: "The debt ceiling has been raised or suspended 78 times since 1960"
"I’ll end my remarks there except to say this: It is imperative that Congress address the debt limit. If not, our current estimate is that Treasury will likely exhaust its extraordinary measures by October 18. At that point, we expect Treasury would be left with very limited resources that would be depleted quickly. America would default for the first time in history. The full faith and credit of the United States would be impaired, and our country would likely face a financial crisis and economic recession as a result. We must address this issue to honor commitments made by this – and prior – Congresses, including those made to address the health and economic impact of the pandemic. It’s necessary to avert a catastrophic event for our economy." more »
Federal Reserve Issues A Federal Open Market Committee Statement: Committee Will Aim to Achieve Inflation Moderately Above 2% For Some Time
"With progress on vaccinations and strong policy support, indicators of economic activity and employment have continued to strengthen. The sectors most adversely affected by the pandemic have improved in recent months, but the rise in COVID-19 cases has slowed their recovery. Inflation is elevated, largely reflecting transitory factors. Overall financial conditions remain accommodative, in part reflecting policy measures to support the economy and the flow of credit to U.S. households and businesses... The path of the economy continues to depend on the course of the virus. Progress on vaccinations will likely continue to reduce the effects of the public health crisis on the economy, but risks to the economic outlook remain." more »
Women's Congressional Policy Institute: Weekly Legislative Update September 13, 2021: Bringing Women Policymakers Together Across Party Lines to Advance Issues of Importance to Women and Their Families
A bill to permit leave to care for an adult child, grandchild, or grandparent who has a serious health condition, and for other purposes. A bill to transition the Commonwealth of Puerto Rico to the Supplemental Nutrition Assistance Program (SNAP), and for other purposes. A bill to modify the employer credit for paid family and medical leave. Bringing women policymakers together across party lines to advance issues of importance to women and their families. A bill to enhance criminal penalties for health related stalking. proposals related to the Office on Violence Against Women at the Department of Justice. annual report on veteran access to gender specific services under community care contracts.
Weekly Legislative Update
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