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Powell’s term as chairman expires in 2026 and as a board member in 2028. Of Biden’s Fed nominees, only Barr, who was nominated last month, still awaits a confirmation hearing and vote.
Medicare’s financial problems start to pinch in 2026, when hospital payments would need to be trimmed 9 percent, according to government actuaries.
> Pointing to voter referenda in Nebraska and Florida that, respectively, imposed a 36 percent annual interest rate cap on payday loans and put the state on course for a $15-per-hour minimum wage in 2026