Michael Townsend

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Key takeaways Senate passed $70 billion immigration enforcement funding bill, without restrictions to the $1.776 billion anti-weaponization fund. The House is poised to vote this week. President Donald J. Trump signed a slimmed down executive order on artificial intelligence (AI) while Capitol Hill struggles to find consensus on how to regulate AI. House may ban itself from betting on elections or public policy events in prediction markets.

Key takeaways Kevin Warsh was officially sworn in as 17th Federal Reserve chair on May 22. Warsh is likely to build consensus at the Fed rather than push for aggressive action to cut rates. Senators left town for the annual Memorial Day recess on May 21 without voting on the $72 billion immigration enforcement bill, punting the debate to early June. On May 20, the House of Representatives approved a revised housing bill, the 21st Century ROAD to Housing Act, by a 396-13 bipartisan vote.