Predictions: IRS Reporting Plan, Comptroller Fight, Fed Chair Nomination
Earlier this year, the Biden administration called for a law that requires banks to report aggregate information to the IRS on inflows and outflows to accounts. But banks have been fiercely fighting back against the plan. Ian Katz, a bank policy analyst at Capital Alpha Partners, offers his views on who is likely to win this political battle, as well as what may happen to the nominee to lead the OCC and whether the White House will renominate Fed Chair Jerome Powell.