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FDIC Limit, XiPutin Meeting, Trump Calls For Protests: What To Watch In Politics This Week

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FDIC Limit, XiPutin Meeting, Trump Calls For Protests: What To Watch In Politics This Week

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FDIC Limit, XiPutin Meeting, Trump Calls For Protests: What To Watch In Politics This Week
FDIC Limit, XiPutin Meeting, Trump Calls For Protests: What To Watch In Politics This Week

As the Federal Reserve begins its March meeting, investors continue to focus on the stability of the US banking system.

Meanwhile, Chinese President Xi Jinping and Russian President Vladimir Putin met to discuss trade and the war in Ukraine. and Digital World Acquisition Corp. (DWAC) Stocks saw more volatility after former President Donald Trump took to social media in anticipation of a potential impeachment trial.

Here are three big business and political stories for next week:

Lawmakers are not proposing to raise the FDIC insurance limit

A bipartisan consensus appears to be emerging after Silicon Valley Bank ( SIVB ) and Signature Bank ( SBNY ) refused to increase the Federal Deposit Insurance Corporation's (FDIC) insurance rate by $250,000 for mid-sized banks.

"Raising the FDIC insurance limit is a good step," Sen said. said Elizabeth Warren (D-Mass.) on CBS' Face The Nation. “The question now is where is the required amount to be raised? But we have to recognize that these banks are regulated, and if we raise the limit, we're asking the regulators or even trusting them more to do their jobs." .

Warren estimates the increase in FDIC insurance could be between $2 million and $10 million, but regulators need to look further to find the best size.

"That's an issue we have to work on," Warren said. "Is it $2 million? Is it $5 million? Is it 10 million? Small businesses have to depend on cash to pay wages, pay utilities. Should nonprofits do your banking? You can look at individual health and safety. It's that what labor regulators should do.

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It seems like something even House Republicans would like to consider.

"However, what I will do legislatively and as governor is determine whether we should look at FDIC deposit rates," House Financial Services Committee Chairman Patrick McHenry (RNC) said on CBS' "Face The Nation" News. ", adding: "We did this after the last financial crisis and raised it from $100,000 to $250,000.

China Xi met with Putin in Moscow

Chinese President Xi Jinping met with Russian President Vladimir Putin for the first time after Russia's invasion of Ukraine.

China has proposed a twelve-step program that it says will bring peace between Russia and Ukraine, but it has been met with skepticism by the US and NATO allies.

In recent weeks, the United States has openly questioned why Xi is ashamed of Putin. The United States has also questioned whether China is helping Russia circumvent Western sanctions.

White House National Security Council spokesman John Kirby called the China-Russia meeting a "marriage of convenience," Reuters reports.

"We hope that President Xi will put pressure on President Putin to stop the bombing of Ukrainian cities, hospitals and schools; stop war crimes and atrocities; and withdraw all of your troops," Kirby told reporters at a White House press conference on Monday.

However, he added, "we fear that China may instead repeat its demand for a cease-fire, as a result of which Russian troops remained on the sovereign territory of Ukraine. And any truce that does not involve the withdrawal of Russian troops from Ukraine will be reinforced by Russia's illegal conquest. "allowing Russia to strengthen its position and then resume the war at a more favorable time."

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Trump says he expects arrests, calls for protests

Former President Donald Trump took to the ultra-conservative social media platform Truth Social to say he expects to be arrested in New York this week on charges of allegedly making secret payments to adult film actress Stormy Daniels.

In a series of messages reminiscent of his call for a march on Washington ahead of the Jan. 6 uprising, Trump called on his supporters to protest in New York.

House Speaker Kevin McCarthy (D-Calif.) dismissed calls for protest Monday.

"I don't think people should be protesting it, no," House Speaker Kevin McCarthy (D-Calif.) told reporters Sunday night when asked about the end-of-semester announcement. Trump week.

Trump is also using the potential of impeachment to raise money for his 2024 presidential campaign. Investigations in various areas can be expensive and drain his political war funds.

And while the measure may appeal to the smaller donors she relies on, it likely won't appeal to big donors looking to other potential 2024 Republican candidates, such as Florida Gov. Ron DeSantis.

"I don't know what it's like to pay a porn star to keep quiet about an alleged relationship, I can't talk about it," DeSantis joked to reporters at a news conference in Panama on Monday. Florida.

Kevin Cirilli is a Yahoo Finance Fellow and Visiting Media Fellow at the Atlantic Council's Global China Center.

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Morning news – March 20

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