Mike & Co. — The economy added 292,000 jobs last month, up from 252,000 in November. Unemployment was 5 percent, unchanged, with scant evidence of wage growth. Labor force participation remained low, 62.6 percent, unchanged from November’s 62.5 percent, close to its lowest level since the 1970s. Spring doesn’t feel around the corner but at least primary politics …
Mike & Co. – For better or worse, there have been few repercussions thus far among electeds or the media regarding the recent exchanges on financial regulation policy from the campaign trail this week (see photo below). The differences in the nature of the candidates’ proposals doesn’t appear to be clear and sufficient to generate …
Mike & Co. — Welcome back. Seat belts buckled? 2016 opened with a multi-percent loss in capital markets across the board globally the first day and a speech by Sen. Sanders outlining his financial regulatory priorities, replete with criticisms and challenges directed at HRC’s proposals the next day. For now, a quick survey here …
Mike & Co. — For the first time in five years, Congress and the administration came to an agreement last month on the federal budget and the debt limit. They managed to do this without serious risk of a government shutdown or default. In fact, with the government now funded throughSeptember 30, 2016, there’s practically no chance …
Mike & Co. — After the GOP captured the Senate in the midterm elections, the main question in the financial regulatory world as 2015 began was whether Congress would rollback key parts of Dodd-Frank Act (DFA) as the GOP-controlled House had been voting to do over the previous four years. How did the two sides …
Mike & Co. — House and Senate budget negotiators said tonight they are near final terms on text of legislation covering the FY 2016 budget, the extenders, and more. Before midnight, they hope they can release the draft bill, negotiated quietly but relentlessly for five days now, and proceed to votes on Thursday. More on the main terms of …
Mike & Co. — Congressional negotiators appear near a bipartisan deal on a year-end spending and tax package tonight that would increase domestic and military funding, lift the ban on crude oil exports and extend several tax breaks for businesses and individuals. The omnibus negotiations have been going on around the clock almost without pause since Friday but every passing …
Mike & Co. – The annual session-end crunch is on in Congress, with several big-ticket items under negotiation. As predictable as this yearly jam is, the outcomes are not at this stage. Congress is searching for just the right mix of provisions and bills until a permutation that can guarantee passage is found. Until then, …
Mike & Co. — Most of the activity on Capital Hill this week is focused on the FY 2016 budget, but it has become so rider-ridden that few expect it to be competed by the Friday deadline for passage. Instead it is becoming likely that Congress will adopt a short-term continuing resolution that will push votes on …
Senior Senate Finance and House Ways and Means staff were at the negotiating table much of this weekend, working on a growing tax extenders-plus package now rumored to cost in the $700-800 billion over ten-year ballpark. The package began with the Senate Finance bill reported in July extending or making permanent the 50-odd tax breaks known as …
