FEC Allows Bitcoin Campaign Donations
May 09, 2014
FEC Allows Bitcoin Campaign Donations; Wholesale Trade Rose in March
On the Hill
- The House Intelligence Committee has approved the USA Freedom Act that was passed in the House Judiciary Committee on Wednesday. The bill contains some of the key recommendations that have emerged from the White House, including a shift in gathering of bulk phone data from the NSA to the private sector. The Intelligence Committee opted not to carry out a vote on the FISA Transparency and Modernization Act that had been supported by committee chairman, Mike Rogers. With approval from the Intelligence and Judiciary Committees, the bill is likely to be the House’s template and primary means of legislative reform of the bulk data collection programs and intelligence practices at the NSA.
- The Labor Department released its report on Job Openings and Labor Turnover (JOLTS), revealing that job openings declined slightly from 4.173 million to 4.014 million in March. This falls slightly below consensus expectations, and could be cited as a reason for continued easy monetary policy going forward. The hires rate, the separations rate, the quits rate, and the layoffs and discharges rates were all essentially unchanged from February to March.
- The monthly report on wholesale trade from the US Commerce Department released this morning shows that sales by wholesalers rose 1.4% from March to February. The gains in wholesale trade easily surpassed market expectations that were around a 0.5% increase. Inventories also increased by 1.1% in March, but the inventories/sales ratio declined from 1.19 to 1.18.
- The Federal Election Commission announced yesterday that bitcoins, the online currency, may be accepted as donations by political committees. Democrats were initially opposed to the use of bitcoins in campaign donations, but eventually agreed given the preservation of the $100 campaign donation limit across the internet currency.