Senator Toomey on Rail Deal, Crypto and Inflation

The transcript covers various topics including the potential economic impact of averted strikes, challenges in crypto regulation by the SEC, and the need for Congress to provide a framework. It also discusses the Senator's retirement plans, economic resilience, inflation control, and the challenges faced by small restaurants due to inflation. The conversation highlights the importance of stable economic policies and the need for regulatory clarity in emerging sectors like crypto.

What was the potential daily economic cost of the strike that was averted?

• $1 billion

• $2 billion

• $3 billion

• $4 billion

What is the SEC's stance on most crypto tokens?

• They are commodities

• They are securities

• They are utilities

• They are currencies

Which cryptocurrency does the SEC exempt from being classified as a security?

• Ethereum

• Litecoin

• Ripple

• Bitcoin

What is the senator's plan after retiring from the Senate?

• Start a new business

• No specific plans yet

• Join the crypto industry

• Take a break

What is the senator's view on the Phillips curve?

• He supports it

• He is skeptical of it

• He has no opinion

• He believes it is outdated

What is a major challenge faced by small restaurants according to the senator?

• High taxes

• Lack of customers

• Strict regulations

• Inflation and rising costs

What does the senator suggest Congress should avoid doing to help small businesses?

• Providing subsidies

• Throwing gasoline on the fire

• Increasing taxes

• Reducing regulations