Congress returns to Washington this week amid growing uncertainty and drama over President Joe Biden’s place atop the Democratic presidential ticket. Four more senior House Democrats, including Rep. Jerry Nadler of New York on Sunday afternoon became the latest in the party calling for Biden to abandon his reelection campaign, which has been reeling since his disastrous debate performance last month. As Daniella Diaz, Anthony Adragna and Nicholas Wu report, the new defections are “a poor omen for the Biden campaign as the entire Democratic elected apparatus prepares to return to Washington on Monday evening where lawmakers will face tough questioning about their party’s standard-bearer.” Some Democrats came to Biden’s defense over the weekend. Others stopped short of calling for his replacement but said Biden hadn’t done enough to alleviate concerns about his age and mental capacity. Meanwhile, it’s a busy week for economic and financial policymakers on the Hill. Federal Reserve Chair Jerome Powell will answer questions from lawmakers in the Senate on Tuesday and in the House on Wednesday. Treasury Secretary Janet Yellen testifies before the House on Tuesday. The Senate Banking Committee is also gearing up for a nomination hearing Thursday for Christy Goldsmith Romero, Biden’s pick to lead the Federal Deposit Insurance Corp. Goldsmith Romero, currently a CFTC commissioner, would replace longtime FDIC Chair Martin Gruenberg who agreed to step down earlier this year under fire after the release of a blistering report that cited pervasive harassment and misconduct at the bank regulator under his watch. As Zach Warmbrodt explains in a new story this morning, Goldsmith Romero is getting an unexpected boost from two corners of the financial industry — fintech and crypto — that have been increasingly at odds with the FDIC during the Biden administration. American Fintech Council CEO Phil Goldfeder, whose group has accused the FDIC of pursuing a crackdown against partnerships between banks and fintech firms, said it’s been a “privilege” to work with Goldsmith Romero. “She has proven her willingness to engage with industry leaders and a shared interest in financial inclusion through responsible innovation,” Goldfeder said. Corey Then, vice president and deputy general counsel at the crypto firm Circle, is among the CFTC tech advisory committee members backing Goldsmith Romero, praising her as “honest, thoughtful, balanced and fair” and her work as a “consensus builder.” Ari Redbord, another crypto industry representative and CFTC tech panel member has also conveyed his support to Senate Banking. “Having a deep understanding of it and really understanding the promise of technology — both what value the technology brings but also how you can use that technology to mitigate risks to craft thoughtful regulation — I think is really, really important. Christy brings that to the conversation.” IT’S MONDAY. Get in touch at mstratford@politico.com. As always, send tips and suggestions to Sam at ssutton@politico.com or on Signal at 925.216.7576.
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