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 767 — Weekly Econ. Roundup:Prices, GDP, SBF, a Bridge in Baltimore While Congress began a two-week recess, the economic world took no time off, with new readings in on prices and GDP, a decades-long prison sentence for fraud for the disgraced Sam Bankman-Fried of FTX notoriety, and an infrastructure disaster in Baltimore that Congress …
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 759 — Not Quite Done Yet:Progress Report on FY24, Inflation This week saw incremental progress on two of the most vexing economic policy challenges of recent times. Yesterday, Congress averted the latest shutdown threat, passing another Continuing Resolution (CR) keeping the government open but setting deadlines for later this month to finish appropriations measures …
Update 756 — Week of Holding Patterns: CPI, Emergency Supplementals, Budget The January CPI report out this week showed prices barely budged from December, disappointing investors and others who had hoped to see the Fed start to ease interest rates this quarter. The Senate passed a $95 billion supplemental package on Tuesday that excluded border …
Update 754 — Econ. Policy Weekly Roundup:Foreign Assistance, CBO on Debt, Bank Junk None of the disparate panoply of major developments this week points clearly to the resolution of long-festering issues, but each deserves attention. The Senate is coming to grips with a bill providing “emergency” supplemental foreign assistance requests originally submitted by the President …
Senate Foreign Assistance, CBO on Debt, Bank Junk Read More »
Update 752 — A Moderate Tax Triumph: House OKs Bill; Senate a Speed Bump? In a rare display of “regular order,” the House voted Wednesday on the $79 billion tax package that partially restores the Child Tax Credit and three corporate tax breaks, following an actual Ways & Means markup last week, passing the bill …
A Moderate Tax Triumph: House OKs Bill; Senate a Speed Bump? Read More »
Update 750 —2023 GDP Growth of 2.5%Shows Post-Pandemic Economy Strong With continuing labor market resilience, records in major equity markets indices, and a report this week showing surprisingly strong GDP growth, talk is almost nil of the recession that many thought inevitable a year ago. The strong gains in GDP over the past four quarters …
Update 748 — Weekly Econ. Policy Roundup:FY24 CR Extended; Consumer Sentiment Surges The good news: Congress yesterday passed an extension of the current FY24 continuing resolution (CR) to fund the government until early March, without any extreme policy riders or provisions. The President signed the bill today, averting a partial government shutdown. The bad: as …
