Update 833 — Continuing Irresolution:Speaker Still ISO Plan to Avert Shutdown Mike Tyson once remarked that boxers have a plan going into every fight — until they get punched in the mouth. Speaker Johnson had a viable, bipartisan plan A this week to keep the government funded through mid-March and avert a shutdown via a …
Update 830 — Lame Duck Finish Line: Remaining Business of 118th Congress This morning’s November CPI report, showing overall inflation ticking up to 2.7 percent last month, shows that the steep price increases of the past two years have eased but far less than the Federal Reserve would prefer. The new data comes ahead of the …
Update 829 — Jobs Gains Up Again in November; Crypto Friendly SEC Pick among New Trump Noms. This morning’s jobs report, showing 227,00 jobs added to the economy and unemployment ticking up to 4.2 percent in November, indicates that the labor market remains strong after labor action and extreme weather led to low job gains in …
Update 825 — Lame-Duck Session PreviewEcon. Issues on 118th’s Must-Pass Agenda The 118th Congress may turn out to be one of the least productive ever, but a few precious weeks remain before the books are closed and it can be evaluated. Between now and adjournment late next month, several economic policy must-pass items are on …
Update 823 — Trump Rolls to Second TermFed Rate Cut 25bp; Powell Defiant on Trump Supported by 56 percent of working-class voters, themselves 57 percent of the electorate, and taking down the Blue Wall, Donald Trump won the presidential popular vote majority for the first time, en route to a 295-226 electoral college margin (on …
Update 819 — Storms of Disinformation:Speaker Johnson: Assistance “Can Wait” Millions of Americans affected by Hurricanes Helene and Milton in the last month have had to endure not only personal and financial catastrophe but a flood of disinformation from Republicans about the status and availability of federal disaster assistance. Calls continued this week for Congress …
Update 773 — Supplemental’s Status, Roundup of Week’s Other Developments It isn’t the express train but the long-lingering local that the $95 billion international assistance package, originally requested by the administration over six months ago, is riding en route to the finish line in Congress. Once enacted, the White House will sign and herald most …
Update 771 — CPI Hotter Than Expected;March Report Dampens Rate Cut Outlook Following this week’s CPI report for March, observers ranging from President Biden to Fed Governors to market participants agree that the trends in stubbornly elevated prices thus far this year point to a reduced likelihood of a Fed pivot to interest rate cuts …
Update 765 — FY24’s Bell Lap at LastDOJ vs Apple; Bank Merger Rules; NAR Congress is poised to pass the six remaining appropriations bills for FY24 almost halfway through the current fiscal year. Though disagreements between Speaker Johnson and the White House endangered the package in its final stages of negotiation, Democrats have emerged from …
Update 746 — FY24 Top-Line Agreement:Speaker’s Fraught Sell to Freedom Caucus Congressional leaders announced an agreement Sunday on top-line domestic and defense budget target levels of $704 and $886 billion respectively for fiscal year 2024. The figures ratify targets set in the Fiscal Responsibility Act, passed last June by wide margins to avert a debt …
