This week: Trade deals cross the finish line

{mosads}Lee and Obama will hold a joint press conference Thursday before an official state dinner in the evening. House Speaker John Boehner (R-Ohio) has also invited the South Korean president to address a joint session of Congress. 

On Wednesday, Myung-bak will be hosted by the U.S. Chamber of Commerce to discuss the trade agreement and what the two nations’ relationship holds for the future.

The Senate could also vote on a bill aimed at hitting China’s currency policy this week, but its fate is uncertain in the House.

On Tuesday, the Financial Stability Oversight Council (FSOC) will hold a meeting. That comes as financial regulators are preparing to roll out the “Volcker Rule,” a highly anticipated chunk of the Dodd-Frank financial reform law that places restrictions on proprietary trading at financial firms – i.e., trading down by firms for their own profits, not at the behest of clients. 

Regulators will be meeting throughout the week, and official proposals are expected to be unveiled during the week.

Elsewhere on Capitol Hill, the deficit-cutting supercommittee does not have any publicly scheduled events this week, but could be receiving lots of input. That’s because Friday is the deadline for the standing committees to put forward their own deficit-busting recommendations, as they pertain to their respective areas of jurisdiction.

After advancing the free trade agreements, the Senate Finance Committee on Wednesday will continue its discussion of tax reform. This time, the group will hear from experts on ways the tax code can be overhauled while still encouraging capital investment and manufacturing in America.

On Thursday, the Senate Banking Committee will discuss economic sanctions on Iran, hearing from officials from the Commerce, State and Treasury Departments.

Housing will be a big topic at the House Financial Services Committee, as subcommittees are slated to discuss varying aspects of the broad issue in three separate hearings this week.

And on Tuesday, the Federal Reserve will release the details of the most recent meeting of its Federal Open Market Committee (FOMC), where central bankers decided to take further steps in an effort to boost the economy. Specifically, the Fed opted during that meeting to overload its portfolio with longer-term securities in a bid to lower borrowing rates — a move dubbed “Operation Twist.”