The House of Representatives passed a temporary spending bill on September 25 to keep the federal government in business through October. In order to avoid a government shutdown, the Senate must now approve the measure before the new fiscal year starts on October 1.
The House Committee on Financial Services held its first major hearing on H.R. 1207, the Federal Reserve Transparency Act, today. H.R. 1207, originally introduced by Ron Paul (R-Texas), now has 295 cosponsors in the House and a great deal of public support. (The bill’s Senate equivalent, S.604, called the Federal Reserve Sunshine Act, has 28 cosponsors.)
Questions about Florida Senator Melquiades Martinez’ decision to resign two years before the end of his term are flooding the Internet, along with speculation regarding who will replace him. So far, it seems nobody really knows for sure, though there are some indications.