WASHINGTON, May 25 (TNSLrpt) -- A working paper from the Federal Reserve Bank of St. Louis highlights the surprising and often proactive role the Federal Reserve played in navigating banking crises during the 1920s, a period predating the widespread understanding of the Fed as a "lender of last resort." The 6-page working paper, issued on May 2, 2025, titled "Mark Carlson's The Young Fed: A Review Essay," authored by Jonathan Rose, offers an in-depth review of Mark Carlson's new book, The Young   more

WASHINGTON, May 23 -- Sen. Richard J. Durbin, D-Illinois, issued the following news release: * * * Durbin Discusses Legislation To Combat Crypto ATM Fraud In Illinois May 23, 2025 CHICAGO -- U.S. Senate Democratic Whip Dick Durbin (D-IL) today held a press conference at SEIU Healthcare alongside consumer advocates to discuss his amendment to legislation currently being considered in the Senate to establish federal rules for stablecoins--a form of cryptocurrency. Durbin's amendment is based   more

WASHINGTON, May 24 -- Rep. Rudy Yakym, R-Indiana, posted the following statement in the extensions of remarks section of the Congressional Record on May 23, 2025: * * * Mr. Speaker, I rise today to honor Chief Ryleigh Carr, School Resource Officer at Culver Community Schools in Indiana, for her exceptional dedication and service to her school and community. Chief Carr has recently been sworn in as Chief of the Community Police Department, becoming the first female to hold that position in the  more

WASHINGTON, May 23 -- Sen. Roger Marshall, R-Kansas, issued the following news release: * * * Senators Marshall, Hickenlooper Introduce Bipartisan Legislation to Expand Access to Capital for Small Businesses U.S. Senators Roger Marshall, M.D. (R-Kansas) and John Hickenlooper (D-Colorado) introduced the Investing in All of America Act of 2025, bipartisan legislation designed to expand access to capital for small businesses in rural and low-income communities, as well as those in the manufactur  more

WASHINGTON, May 25 -- Alberto Musalem, President of the Federal Reserve Bank of St. Louis, issued remarks at an Economic Club of Minnesota event on May 20, 2025. He shared his views on the U.S. economic outlook and its implications for monetary policy, noting the appropriateness of a modestly restrictive policy given underlying economic strength, a resilient labor market, and above-target inflation. * * * Here is the text of his remarks: The text is as prepared for delivery. Good afternoon.   more

WASHINGTON, May 24 (TNSLrpt) -- The Congressional Research Service issued the following report (No. R48543) on May 23, 2025, entitled "Transportation Security - Background and Issues for the 119th Congress:" (Continued from Part 2 of 3) * * * Freight Rail Security/109 Freight trains generate roughly 29% of all freight ton-miles across all transportation modes in the United States, transported along a railway network over 130,000 miles long./110 In contrast to publicly owned and managed airp  more

WASHINGTON, May 25 (TNSLrpt) -- The Agriculture Inspector General issued the following audit report (No. 50601-0011-31) on April 30, 2025 entitled "USDA's Implementation of the National Bio and Agro-Defense Facility." Here are excerpts: * * * DATE: April 30, 2025 AUDIT NUMBER: 50601-0011-31 TO: Joon Park, Acting Administrator, Agricultural Research Service ATTN: Brandon Levin, Acting Associate Deputy Administrator Administrative and Financial Management Agricultural Research Service FROM:  more