The Daily Punch Readback: Please let the financial policy reporters sleep
Jan 17, 2026
Brendan Pedersen, aka 'Dr. Vault,' is a savvy financial services reporter at Punchbowl News. He shares his whirlwind week covering key financial events, including Jay Powell's DOJ probe and the implications for Fed independence. Brendan decodes the complex crypto legislation aiming to reshape market structures and highlights the contentious stablecoin yield debate, where banks and crypto seek different ends. He also reflects on how Coinbase's withdrawal hindered negotiations in the Senate Banking Committee. Tune in for insightful financial analysis!
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Market Structure Would Reshape Finance
- Market-structure crypto bill would rewrite long-standing rules and fold digital assets into the financial plumbing.
Stablecoin Yield Became The Flashpoint
- The central fight was over stablecoin yield and who can pay interest-like rewards to attract deposits.
Banks Pushed Yield Limits To Protect Deposits
- Banks pushed to restrict yield to protect deposits and community-lending functions from being hollowed out.