Nomination Hearing for Assistant Secretary of the Treasury, Luke Petit

The Senate Banking Housing and Urban Affairs Committee held a nomination hearing to confirm Luke Petit as assistant secretary of Financial Institutions at the Treasury.

• Petit was previously employed at the Federal Reserve, Bridgewater Associates (private sector), the Senate Banking Housing and Urban Affairs Committee as an economist, and as Senator Hagerty’s (R-TN) senior policy advisor.
• Senators from both sides of the aisle asked questions about the short-term effects of tariffs on imported goods, the importance of CDFIs, his communication plans with smaller community banks, and his proposal to maintain independence between regulators and banks.

What’s Next: The Committee will schedule a vote on his nomination.