Government Funding Deadline Approaches

in US Policy

The big market news this week was the Fed action increasing rates by 75 bps. The Fed chair, as has been his policy, well telegraphed the move and most market participants had expected the action. At the post-meeting press conference the Chair reiterated his basic stance that the Fed will keep up the pace of increases, but will be data …

Fed meets, government plan to avoid shutdown, rail agreement and midterms

in US Policy

The Fed’s Federal Open Markets Committee (FOMC) meets Tuesday and Wednesday this week with Chair Powell’s all important press event after the meeting at 2:30 on Wednesday, September 21. Fed Chair Powell has maintained a position of telegraphing policy, and at recent speeches in Jackson Hole and before the Cato Institute he has been clear that the Fed is on …

Fed Day Arrives, Government Funding Unresolved

in US Policy

With no FOMC rate-setting meeting in August, the long-anticipated next session is next week (September 20/21). On Wednesday afternoon Chair Powell will hold his regular post-meeting press conference where he will give his view of the rate decision and look forward. As Chair Powell has been pretty good at telegraphing policy, there is a widely expected move at next week’s …

Fed, Congress Headline Risk, Top Ten Senate Races

in US Policy

Last week Fed Chair Powell spoke at a virtual monetary conference sponsored by the Cato Institute.  The session format was a little different as the Cato President was able to ask questions of the Chair.  Powell in his comments was clear: the Fed is committed to bring down the rate of inflation to 2% and it will do so even …

Powell Speaks and Congress Faces Funding Deadline

in US Policy

On Thursday Fed Chair Powell spoke at the Cato Institute’s Monetary Conference and reiterated the Fed’s commitment to achieving 2% inflation. It was a strong signal to markets that the message he sent at Jackson Hole was not a “one off” but the policy of the Fed to roll back the post-Covid inflation that started in March 2021. Powell referred …

Congress returns, Powell speaks, Midterms only 2 months away

in US Policy

The Senate returns today and the House next week with one must-pass bill on the agenda – Continuing Resolution (CR). The US government’s fiscal year ends on September 30 and Congress needs to pass a stopgap spending bill to avoid a government shutdown.  As we have seen in the past, politics can get in the way of Congress doing what …

Budget deadline and midterms

in Views on Washington Policy from Tom Block

Congress has one more week of their August/Labor Day recess before returning to DC on September 13 for a three-week pre-midterm session where mission number one is to pass a stopgap budget measure to in order to prevent a partial government shutdown on October 1. While the Congress is out of session there have been behind the scenes talks to …