Crypto Industry Gets Big Win With Stablecoin Bill | Balance of Power: Late Edition 7/17/2025

/ 9 hours ago July 17, 2025

From Bloomberg Markets and Finance.

"Balance of Power: Late Edition" focuses on the intersection of politics and global business. On today’s show, Joseph Lavorgna, Counselor to Treasury Secretary Scott Bessent, shares his thoughts on the House passing the Stablecoin Bill. Port of Los Angeles Executive Director, Gene Seroka, discusses what he is learning from the behavior of importers as the Trump tariff deadline is only a few weeks away. Rep. Debbie Dingell (D) Michigan voices her concerns over the Rescissions package and states its passing will create some “serious harm.”

Chapters:
00:00:00 – Balance of Power: Late Edition Begins
00:01:25 – Erik Wasson on House Passes Stablecoin Bill, Senate Sends Rescissions Package Back to the House to Potentially Sign By Friday
00:03:45 – Joseph Lavorgna, Counselor to Treasury Secretary Scott Bessent, on Stablecoin Bill Passing, Fed. Reserve & Interest Rates
00:13:16 – Romaine Bostick on Retail Sales Report, Stocks Hit Record on Signs Economy Remains Strong, Netflix Earnings
00:15:52 – Gene Seroka, Executive Dir. of Port of LA, on Import Behaviors Ahead of Tariff Deadline, Trade Flows, Shift in Demand for US Goods
00:24:53 – Michael McKee on Fed. Chair Powell Responding to Renovations, Fed’s Attempt to Diffuse Trump Tensions, Mary Daly on Rate Cuts
00:29:05 – Rep. Debbie Dingell (D-MI) on Rescissions Package Effect on Appropriations, Voting No on Crypto Legislation, How Tariffs Effecting Constituents
00:37:48 – Bloomberg’s Power Brief: Top Stories Watching Tonight
00:39:28 – Political Panel Reaction to White House Addressing Pres. Trump’s Health, Rescissions Package Latest, Stablecoin Passes, Epstein Files
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