Michael Stratford

Washington, D.C.

Economic Policy Reporter at POLITICO

Economic policy reporter @Politico. [email protected]. DM for Signal.

Articles

Social Security, Medicare finances worsen, bringing funding cliffs sooner

1 week ago | politico.com | Michael Stratford

The latest projections come amid bitter political and legal fights over the Trump administration’s early efforts to crack down on alleged fraud in Social Security programs. The change to the financial outlook for Social Security’s reserves was primarily driven by a bipartisan expansion of benefits to millions of public sector workers.
GOP targets Treasury’s risk-watching data hub

2 weeks ago | politico.com | Michael Stratford

Editor’s note: Morning Money is a free version of POLITICO Pro Financial Services morning newsletter, which is delivered to our subscribers each morning at 5:15 a.m. The POLITICO Pro platform combines the news you need with tools you can use to take action on the day’s biggest stories. Act on the news with POLITICO Pro.
Powell taps DOJ inspector general as new watchdog for Fed, CFPB

3 weeks ago | politico.com | Michael Stratford

Michael Horowitz previously won praise from Trump supporters for uncovering problems in the FBI’s handling of the investigation into the president’s Russia connections. Longtime Justice Department inspector general Michael Horowitz was tapped by Federal Reserve Chair Jerome Powell as the central bank's next watchdog.
Trump administration prepares to ease big bank rules

3 weeks ago | politico.com | Michael Stratford

The proposal would represent the latest policy win for the banking industry, which has been closely scrutinized since the 2008 global financial meltdown. Treasury Secretary Scott Bessent has said that scaling back bank capital requirements is a top priority on the Trump administration’s deregulatory agenda.
Judge approves Treasury DOGE team’s access to sensitive data systems

1 month ago | politico.com | Michael Stratford

The ruling found that the Trump administration had shown it set up a process to appropriately vet and train the employees. The ruling marks a win for the Trump administration, which set off a political and legal firestorm earlier this year for granting access to the payment systems to Elon Musk’s DOGE operation.
Treasury advances Trump’s plan to stop minting the penny

1 month ago | politico.com | Michael Stratford

The Mint expects that it will realize an immediate annual savings of $56 million by phasing out production of the penny, according to the Treasury Department. The Treasury Department says it's moving ahead with President Donald Trump's plan to eventually end production of the U.S. penny.
‘Glaring red flag’: Treasury DOGE team reveals bank holdings

1 month ago | politico.com | Michael Stratford

Several former Treasury officials and government ethics experts said the disclosures raise ethics concerns. A top Treasury Department official overseeing federal financial operations disclosed owning shares of financial services companies. A spokeswoman said the agency was following all ethics laws and guidlines.
‘Glaring red flag’: Treasury DOGE team discloses bank stock holdings

1 month ago | politico.com | Michael Stratford

Editor’s note: Morning Money is a free version of POLITICO Pro Financial Services morning newsletter, which is delivered to our subscribers each morning at 5:15 a.m. The POLITICO Pro platform combines the news you need with tools you can use to take action on the day’s biggest stories. Act on the news with POLITICO Pro.
U.S. likely to hit debt limit X-date in August, Treasury says

1 month ago | politico.com | Michael Stratford |Jennifer Scholtes

The date could become the new, de facto deadline for congressional Republicans to pass their megabill. Treasury Secretary Scott Bessent testifies before the House Financial Services Committee on Capitol Hill, May 7, 2025.
U.S. likely to hit debt limit X-date in August, Treasury says

1 month ago | finance.yahoo.com | Michael Stratford |Jennifer Scholtes

The Treasury Department said Friday it would likely run out of cash to pay the nation’s bills by August, setting a new, firmer deadline for Congress to act to avoid a catastrophic default on the United States’ more-than $36 trillion debt.