Name: Congress should examine Reddit-fueled trading, White House says
Uploaded: 2021-02-04T19:15:26.000Z
Duration: 1 min 35 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

Some lawmakers have proposed legislative reforms, like restrictions on short selling and financial transaction tax that the latter of which President Biden supported during the 2020 campaign.

Adverbs of degree

So I wanna ask you now if the White House would support actions like those to address the situation, well, as we've noted in here several times before, but I just want to reiterate, Obviously, this is under the purview of the SEC in terms of, um, their review and monitoring.

Um, but this is there is an important set of policy issues that have been raised as a result of market volatility in recent days, and we think congressional attention to these issues is appropriate and would welcome working with Congress moving forward as we dig into these further policy issues.

But I don't have anything further to predict for you other than we certainly welcome the opportunity to work with members who have proposed idea there been any direct engagement with those members so far on what they proposed.

I don't have anything to read out for you on that front.

Obviously, we're engaged, um, at a variety of levels every day, with a range of offices on a number of issues.

Um, so but I don't have anything more for you on that last one.

More on this story is so there's no confirmed members right now on the Financial Stability Oversight Council.

Is that the White House view that that lack of officials in place is affecting your administration's approach to this situation?

Well, again, the SEC is looking carefully recent activities on def.

They're consistent with investor protection and fair and efficient markets.

 Um, that's where we think the purview is, and the focus is at this point in time. 