Katherine Hapgood

Now that it’s playbook official: excited to announce that I’m officially joining the financial services team as a regulations and small business policy reporter on the Hill! Khapgood@politico.com for tips or dm for signal/text.

Senate lawmakers were not consulted or informed of what they considered to be “drastic” edits to the Senate-passed bill, two senior Senate Republican aides and two senior Senate Democratic aides granted anonymity to speak candidly, said on Saturday.

The House updated its amended, bipartisan housing legislation late Friday to address White House concerns, even as Republican and Democratic senators remain united in their opposition to the lower chamber’s bill. subscriber.politicopro.com/article/2026/0…

Next month, I will have been covering the Federal Reserve for 10 years. In my latest column, I reflect a bit on an underrated lesson from Jay Powell’s tenure politico.com/news/magazine/…

This would also seem to undermine the WH narrative that Trump wants to pass the Senate housing bill with no changes…

SCOOP: Obernolte-Trahan AI talks are centered around a plan to preempt certain state AI safety laws for frontier models, a 2-year sunset provision and whether a vetting regime should be compulsory. My latest w/ @BrendanBordelon for @politico: politico.com/news/2026/05/1…

“This will result in better regulations, more durable rules, and more sensitivity to the divergent views of key derivatives market stakeholders.” House Ag’s top lawmakers are pushing President Trump to name a full slate of commissioners at the CFTC. subscriber.politicopro.com/article/2026/0…

Scoop - House GOP leaders updated their amended housing text late today — after the Trump administration/HUD raised concerns to GOP offices as WH tries to force Rs to pass Senate version Updated text strips out section 106 on the eviction helpline and curtails the renter resource to only deal with federal complaints, per 5 ppl involved New text here: docs.house.gov/billsthisweek/… W/ @hapgoodreports

A side effect of this delay is that this will mean Warsh’s four-year chair term ends deeper into the next president’s term. It was a quirk of history – delay in Biden’s renomination & Senate’s slow pace of confirmation – that led Powell’s chairmanship to end now & not early Feb.

A senior House GOP aide called the letter sent today by Housing and Urban Development Secretary Scott Turner “fake outrage” and an “obvious political attempt to knife the House’s bill.” More on the White House’s open war with House Republicans over a stalled landmark housing bill > politico.com/live-updates/2… via @politico

NEW: Fed Chair Jerome Powell, whose term atop the central bank ends Friday, will stay on in an acting capacity until Kevin Warsh is officially sworn in. It might take some time for Warsh to be officially sworn in to the job for procedural reasons federalreserve.gov/newsevents/pre…

The steaks are high: Beef prices become Trump’s latest midterms headache dlvr.it/TSYnmJ

“Following the President’s call to lower housing prices and his strong endorsement of the Senate-led 21st Century Road to Housing Act this week, the White House is putting the pressure on Congress to deliver this bill to the President’s desk quickly,” said a White House official.

The White House is mounting pressure on Congress to pass the Senate version of housing legislation by pushing additional materials in support of the bill to all House Republican lawmakers’ offices Friday, according to documents obtained by POLITICO. politico.com/live-updates/2…

New: another consequence of redistricting? Even fewer competitive House seats. so long to wave elections, hello to slim majorities politico.com/news/2026/05/1…

As @Eleanor_Mueller lays out nicely here, while Jay Powell's term as Fed chair technically ends today, it might take a bit for Kevin Warsh to actually take over. Beyond paperwork, he's promised to divest assets first. semafor.com/article/05/15/…

HUD Sec. Scott Turner today urged Speaker Johnson and ML Thune to remove portions of the House’s amended housing affordability bill. Concerns over tenant protections hotline and involvement in large institutional investor landlord-tenant disputes. subscriber.politicopro.com/article/2026/0…

Scoop w/ @jordainc: President Donald Trump called Speaker Mike Johnson and put him on speakerphone during a WH meeting with Senate Republicans Monday, to discuss the cross-chamber fight over the stalled housing bill After the senators present pushed for the House to simply pass their version of the bill and clear it for the president’s signature — Trump also pressed the speaker and others to move the bill quickly. The speaker agreed, according to three people with knowledge of the conversation Both Johnson and the senators concluded the meeting with a sense that each of their divergent plans had been validated. Johnson just told @politico he’s going ahead to put an amended plan on the floor - despite WH and Senate GOP pushback. politico.com/live-updates/2…

NEWS — Speaker Mike Johnson tells @politico he still plans for the House to vote on changes to the Senate’s version of the stalled housing bill — despite intense opposition from White House officials and Senate Republicans. “Yeah, I don't think we have the votes to pass the Senate bill as this, so we're going to stand by the House product,” Johnson said. In doing so, Johnson is defying White House officials who’ve told us they were blindsided by the text release and there could be major problems with it. Johnson was dismissive of that pushback: “I’ve talked to the White House. We'll get it all straightened out,” he said Friday. “We're focused on producing a housing bill that meets all the objectives,” Johnson continued. “It'll be bipartisan, bicameral. It's great for the American people. So, sometimes the process is messy, but we'll get there.” House GOP leaders are planning to put the bill on the floor via suspension next Weds. Johnson told us they would discuss final decisions on timing later today. politico.com/live-updates/2…

🚨 The White House is warning that the House’s amended bipartisan housing text lawmakers plan to vote on next week may contain “serious policy concerns or implementation challenges.” “The bill is under review. New provisions were added before the administration had a chance to review or provide technical assistance,” a White House official said in a statement to POLITICO. @hapgoodreports politico.com/live-updates/2… via @politico

Senate panel advances crypto bill with Democrats split after spat over amendments dlvr.it/TSXlmk