Update 905 — Fed Again Cuts Rates,Weighing Labor Weakness, CPI Gains The Federal Reserve cut interest rates by 25 basis points, as expected, at the conclusion of its October FOMC meeting this afternoon. Fed Chair Powell noted that the outlook for inflation and the labor market has not significantly shifted since September. Fed Governor Stephen …
Update 904 — September CPI up to 3%;Roadmarks ahead for Ongoing Shutdown This morning saw the release of new data showing that prices rose 3.0 percent on an annualized basis in September — the highest level since January. The price increase and the steady increases in recent months are the by-product of the Trump administration’s …
Update 893 – Macro Muddle Faces Fed; Democrats’ Shutdown Strategy Emerges The nation’s macroeconomic picture got murkier this week, with CPI showing August prices rising by the most since January, even as jobless claims jumped by the most in four years this week and unemployment edged up last month — “a curious kind of balance,” …
Update 882 – Fiscal Fingers Crossed?Rescissions Package Sets Precedent For the first time in over 30 years, Congress has acted on a presidential rescissions request under the Impoundment Control Act to cancel funding that was previously approved in bipartisan appropriations bills. Beyond funding cuts, this move sets a precedent for undoing negotiated agreements by simple …
Update 874 – Tariff Rate Date MoveMay CPI, Rescissions Bill Lead Week On Tuesday, President Trump announced that the United States had completed a framework for a trade deal with China, calling for both countries to loosen export controls and bring tariff rates back down to levels agreed to in the Geneva “truce.” The next …
Update 874: Round-Up on Trade, Prices, Recissions Read More »
Update 868 – Reconciliation Halted:House Budget Stops Massive Tax Bill In a somewhat surprising turn of events today, the House Budget Committee rejected the GOP reconciliation blueprint, with four Republicans joining Democrats in opposition. The Republican defectors cited concerns over the proposal’s overall deficit impact, as well as delays in implementing cost-reduction measures like Medicaid …
