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 …
Update 747 — The Week in Retreat:Reversals on Budget, Inflation, Crypto The week opened with one step forward, as Hill leaders finally agreed on FY24 budget targets totaling $1.59 trillion on Sunday, only for House GOP hardliners to demand a renegotiation of the deal on Thursday, leaving Speaker Johnson with no clear route forward and …
Update 742 — NDAA Passed, Sent to Biden;House Out; Senate Stays for Supplemental The 2023 legislative year is all but done, with Congress reaching agreement on an $886 billion defense authorization bill (NDAA) yesterday, which the President is expected to sign forthwith. The whole of Congress will not be in session until January 8, but …
NDAA Passed, Sent to Biden; House Out; Senate Stays for Supplemental Read More »
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 …
