On Tuesday, September 28, the Senate Banking Committee held a hearing titled, “CARES Act Oversight of the Treasury and Federal Reserve: Supporting an Equitable Pandemic Recovery.” During the hearing, Senators and witnesses discussed: the debt ceiling; continued economic support, the child tax credit; inflation; a central bank digital currency (CBDC); the Organisation for Economic Co-Operation and Development (OECD); stepped-up basis; increased reporting to the Internal Revenue Service (IRS); Fed regulatory supervision; the supplementary leverage ratio (SLR); deficit spending; budget reconciliation; energy financing; systemic risks to the financial system; and Fed presidents securities trading controversy.
