Powell Squeezed on Both Sides as Senators Press Fed Chief on CFPB, Debanking and Basel

Also, SEC moves to stop defending climate rule in court; CFPB shutdown: top staffers exit and the president weighs in

When Jerome Powell appears on Capitol Hill, his views on interest rates tend to get the most attention. Not today. Instead, the Fed chairman’s Senate Banking testimony was dominated by questions on financial regulation – a sign of just how much is at stake as the Trump administration rolls out its agenda.

A Biden administration holdover who was first app…