The U.S. Senate Banking Committee passed the Financial Integrity and Regulatory Management Act
The U.S. Senate Banking Committee passed the Financial Integrity and Regulatory Management Act proposed by Senator Tim Scott by 13 votes to 11. The bill aims to prohibit federal regulators from intervening on the grounds of “reputational risk” when regulating financial institutions, which greatly alleviates the cryptocurrency market’s concerns about the unfair behavior of “de-banking”.
Mnuchin: Don’t worry too much about the risk of recession, investors should remain calm
On March 14, former U.S. Treasury Secretary Mnuchin said that investors do not have to worry too much about the risk of recession in the United States. He attributed the stock market sell-off to the adjustments brought about by Trump’s trade policy. He called on investors to remain calm and predicted that there would be no recession in the United States. But he also acknowledged that the reduction in U.S. government spending may slow the growth of the economy slightly, but emphasized that this should not cause serious economic concerns.
The U.S. Senate Banking Committee will review the GENIUS Act
U.S. Senator Cynthia Lummis announced that the Senate Banking Committee will conduct a final review of the GENIUS Act proposed by Senator Hagerty. The bill aims to define payment stablecoins, set clear guidelines for issuers, and strike a balance between innovation and consumer protection.
Trump proposes 200% retaliatory tariffs on EU wine
Trump criticized the EU as a “hostile institution” on social media, saying that its 50% tariff on American whiskey was an unfair policy. He warned that if the EU does not cancel the tariff, the United States will impose a 200% retaliatory tariff on wine and champagne from France and other European countries.
Survey shows that most Americans have a negative view of Elon Musk
A survey conducted by CNN and SSRS showed that 53% of Americans have a negative attitude towards Elon Musk, and his popularity has dropped significantly since he joined the Trump administration’s efficiency team. About 60% of people believe that he lacks the experience and judgment needed to reform government operations, and even 28% of Trump supporters question his ability to promote effective reforms.
Royal Bank of Canada analysts expressed concerns about US economic growth and tariff uncertainty
Analysts at Royal Bank of Canada Capital Markets pointed out that Trump’s tariff policy may push up US inflation in the long run, but its uncertainty may also suppress short-term demand, hinder economic growth, and bring deflation risks and complex economic impacts brought by trade policies to the United States.
