Senate Delays Clarity Act Vote Until After August Recess | Balance of Power 08/07/2026
Speakers
Dusty Johnson
— Chair, Digital Assets Subcommittee, House of Representatives
Michael McKee
— International Economics & Policy Correspondent, Bloomberg
Chris Coons
— Senator, US Senate
Greg Landsman
— Congressman (D-OH)
Summary
The episode covers Senate efforts to pass a continuing resolution and confirm Todd Blanche as Attorney General, while the Clarity Act crypto bill faces delay. Senator Coons discusses Russia sanctions and NATO defense. Congressman Johnson warns the crypto bill stall harms innovation. A weak jobs report soothes rate-hike fears, and Trump again threatens to fire a Fed governor. The Army announces faster testing for defense innovation.
- Senate works on time agreement for government funding extension to December and Todd Blanche confirmation
- Clarity Act digital asset framework delayed until after August recess, dampening crypto regulatory hopes
- Lindsey Graham Russia sanctions bill passes Senate, allowing tariffs on Russian oil buyers
- Senator Coons warns Russia may test NATO with limited assaults on Baltic allies
- President Trump sends new letter to Fed Governor Lisa Cook threatening to fire her again
- U.S. payrolls fall unexpectedly, easing pressure on the Fed to raise rates in September
- Army Secretary announces streamlined test range access and $750M venture model for defense innovation
