Key Senator Opposes Plan to Halt Fed Interest Payments to Banks

Senate Banking Committee Chairman Tim Scott said he opposes swift action on a proposal from Texas’ Ted Cruz that would bar the Federal Reserve from paying interest on reserves to banks to help pay for President Donald Trump’s tax and spending package.

from mint - politics Senate Banking Committee Chairman Tim Scott said he opposes swift action on a proposal from Texas’ Ted Cruz that would bar the Federal Reserve from paying interest on reserves to banks to help pay for President Donald Trump’s tax and spending package.