Miscellaneous

Update 735: Shutdown Threat In Temporary Remission

A moment of comity prevailed late yesterday, on a day including physical threats in both chambers, when the House adopted Speaker Johnson’s early holiday gift of a clean, two-step laddered continuing resolution, with the Senate and President Biden expected to sign on and avert a government shutdown until January 19. Democrats provided a majority of the House …

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Update 728 — Suspended Animation:House Left Behind as the World Turns

In late breaking news, the House GOP has dropped the nomination of Rep. Jim Jordan for Speaker, ending a bid that had fallen short in three ballots of voting and was marked by grave threats issued against opponents. After another week of House GOP speakership debate and balloting, full of sound and fury signifying nothing, …

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Update 722 — From Strikes to Shutdown: Challenges to the Post-Covid Recovery

A tumultuous week in Washington and the industrial Midwest hints at a set of short-term challenges that threaten the nation’s rapid recovery from the post-Covid recession. Failure this week, particularly by House Republicans bent on impeachment, to make meaningful budget making progress and avoid a government shutdown and by Detroit automakers to avert the UAW …

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Update 719 — Discretionary to Discount: Consumer Spending Trends and Trajectory

It is safe to say the resilient U.S. consumer has kept the economy from flirting with recession. And again in June, consumer spending increased by 0.5 percent over May, and again, up faster than disposable income. During and shortly after the pandemic, consumers splurged on a range of discretionary items — home gym equipment, patio …

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Update 718 — A Consuming Concern

Status of Merger and Competition Policy It’s not just inflation making consumers uneasy about products and prices. Critical sectors of the U.S. economy have seen increased concentration in recent years, and whether it’s Taylor Swift tickets or food on the table, limited choices and rising costs afflict consumers everywhere. Today, we look at reforms proposed …

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Update 716 — A Year After IRA Passage, Implementation Key to Popular Support

We note without comment the fourth indictment brought against Donald Trump late Monday, but note that the case brought by the District Attorney in Fulton County, Georgia differs from the previous three. This indictment focuses on Trump’s efforts to overturn the results of the 2020 presidential election in Georgia and names 19 co-conspirators on racketeering …

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Update 715 — Weekly Economic Roundup

July Inflation 3.2%: Cooling and the Core The encouraging moderation in prices throughout the economy this summer belies the fact that the trickiest part of fighting inflation lies just ahead: knowing when to stop. The contractionary policy of the Fed, which is in the midst of its steepest set of interest rate increases since the …

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Update 713 — Updating Bank Capital Rules: Rein in Risk or Dimon’s “Disappointment”?

The August recess opened this week with two headline developments. Donald Trump was indicted Tuesday and arraigned yesterday, booked and fingerprinted before pleading not guilty to four counts of conspiring to remain in office after his defeat in the 2020 election. And the U.S. sovereign debt credit rating was cut by Fitch Ratings from AAA …

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