Steven T. Dennis, Washington Post

Steven T. Dennis

Washington Post

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Recent articles by Steven:

What’s the Debt Ceiling, and Will the US Raise It Again?

The very phrase “debt ceiling” sounds austere and restrictive, as if it’s a lid on government spending. In fact, the US federal debt limit was first conceived more than a century ago to make it easier, not harder, for the government to borrow money. But it morphed into an explosive political tool with the potential to roil financial markets, since a failure to raise the debt ceiling could… → Read More

What’s the Debt Ceiling, and Will the US Raise It Again?

The very phrase “debt ceiling” sounds austere and restrictive, as if it’s a lid on government spending. In fact, the US federal debt limit was first conceived more than a century ago to make it easier, not harder, for the government to borrow money. But it morphed into an explosive political tool with the potential to roil financial markets, since a failure to raise the debt ceiling could… → Read More

Democrat Cortez Masto Wins Re-Election in Bellwether Nevada

Democrats are poised to keep control of the US Senate after Catherine Cortez Masto prevailed in the election for a closely fought seat in Nevada that opponent Adam Laxalt is likely to contest. → Read More

Senate Election Forecast 2022: Can Democrats Keep Control in Midterms?

Who will control the Senate after 2022 Midterms? Here are 3 plausible outcomes based on feedback from political strategists, independent analysts, and polling data. → Read More

Democrats Face Big Legislative To-Do List in Sprint to Midterms

Senate Democrats, fresh off a string of legislative victories, return to Washington this week with a packed agenda before November’s midterm elections, including passing billions more in Ukraine and pandemic aid. → Read More

Five Key Moments From the Jan. 6 Capitol Riot Hearing

A House committee investigating the Capitol insurrection opened its series of public hearings with dramatic testimony from an injured US Capitol Police officer, a video appearance by former President Donald Trump’s daughter, Ivanka, and intense footage from the Jan. 6, 2021, riot. Here are five key moments: → Read More

Fed Nominee Michael Barr Picks Up Senate Republican Votes

President Joe Biden’s nomination of Michael Barr as vice chair for supervision at the Federal Reserve has won bipartisan backing, assuring that he will be quickly confirmed by the full Senate. → Read More

A Compromise on Gun Safety Is Brewing in the Senate

Senate Democrats said they were a bit more optimistic about a compromise with Republicans on gun-control legislation responding to the massacre of 19 elementary school children and two teachers in Texas. Then they left town for a 10-day recess. → Read More

Warren Criticizes Summers Over ‘Hipster Antitrust’ Remarks

Senator Elizabeth Warren criticized former Treasury Secretary Lawrence Summers’ remarks decrying what he called “hipster antitrust” views of the Biden administration, saying he is out of touch with issues facing American consumers. → Read More

Powell Wins Senate Confirmation for Second Term as Fed Chair

The Senate voted to confirm Jerome Powell for a second four-year term as Federal Reserve chair on Thursday, trusting him to tackle the highest inflation to confront the country in decades. → Read More

Senate Democrats Plan Tuesday Vote to Confirm Cook for Fed Post

Covid-19 cases among Democrats in the evenly divided chamber have delayed a number of nominations over the past few weeks. → Read More

Senators to Convene Bipartisan Immigration Meeting After Impasse

A bipartisan group of senators will meet Thursday to discuss options for passing immigration legislation this year. → Read More

Lael Brainard Wins Senate Confirmation to Be Fed Vice Chair

Lael Brainard was confirmed as vice chair of the Federal Reserve Board of Governors Tuesday in a 52-43 Senate vote, but a combination of Covid-related absences and a political spat threatens to delay three other Fed nominees. → Read More

Biden’s Trillion-Dollar Deficit Reduction Barely Dents U.S. Debt

President Joe Biden’s budget request highlights shrinking cumulative deficits by more than $1 trillion over the next decade, but that barely makes a dent in the government’s ballooning debt. → Read More

Manchin Pans Biden’s Proposed Tax on Unrealized Gains of Wealthy

President Joe Biden’s plan to tax unrealized capital gains ran into opposition from key Democratic Senator Joe Manchin, likely dooming it just hours after it was sent to Congress. → Read More

Brown Expects Senate Fed Confirmation Votes as Soon as Next Week

Senate Banking Chair Sherrod Brown said Thursday he expects a Senate vote next week to confirm President Joe Biden’s Federal Reserve nominees, though the timing may be affected by GOP opposition to Lisa Cook, who would be the first Black woman on the Board of Governors. → Read More

Biden Hits Manchin Roadblock Again as Raskin Nomination Falters

Biden’s choice of Sarah Bloom Raskin as the Fed’s vice chair for supervision -- the board’s top banking regulator -- was championed by progressive advocacy groups in large part because of her support for regulations on climate financial risks. → Read More

Manchin Pushes Defense Production Act for Natural Gas Pipeline

Senate Energy Chairman Joe Manchin called on the Biden administration to use the Defense Production Act if necessary to rush completion of a stalled pipeline through his state to help Europe replace Russian natural gas supplies. → Read More

The GOP’s Toomey Rails Against the Fed Becoming ‘Politburo’ for Credit

The Pennsylvania senator says the central bank shouldn’t decide how capital gets allocated. → Read More

Senate Banking Panel Delays Vote on Biden Fed Picks Amid GOP Boycott

Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. The Senate Banking Committee will not vote on President Joe Biden’s nominees to the Federal Reserve board on Wednesday, a committee spokesperson said. → Read More