Congress returns, Fed hike, NC Senate race

Key Takeaways

  • Congress returns with Ukraine, Covid relief and help for semiconductors on the agenda
  • Fed continues to telegraph action at May meeting
  • North Carolina has important Senate race with popular Republican retiring

Congress returns after two weeks off for the Easter/Passover break.  The war in Ukraine continues to be a rare unifying issue in Washington and Congress is likely to approve more aid for Ukraine after visit to Kyiv by Secretaries Blinken and Austin this past weekend.

Before Congress went home for their spring break, Senator Romney was trying to broker a deal on more Covid money to fulfil Biden’s idea to increase testing and therapeutics through pharmacies and other healthcare providers.  How to fund the $10B package was the hang-up as Republicans demanded that the program be paid for, and some Democrats objected to the funding mechanism which was to be reallocation of unspent Covid Relief Bill money.  The House and Senate Democratic leadership supported the idea, but  progressive Democrats are standing in the way of a popular bipartisan proposal.

Talks are likely to continue and the White House should play a key role in getting Democrats on board.  With growing forecasts of big Democratic losses in November many leaders know that the Presi...
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