Congress asked the Fed chief about marijuana banking

Mary F. Calvert | Reuters

Federal Reserve Chairman Jerome Powell testifies before a House Financial Services Committee hearing on the “Semiannual Monetary Policy Report to Congress,” at the Rayburn House Office Building in Washington, U.S., July 18, 2018. 

Federal Reserve Chairman Jerome Powell said before the U.S. Senate Tuesday that conflicting federal and state laws on the sale of marijuana and other cannabis products put bank supervisors in a “very difficult place.”

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