• US Policy
Mon December 5, 2022

Tuesday is a big day in the political world with the Georgia Senate race runoff between incumbent Democratic Senator Raphael Warnock and Republican challenger Hershel Walker.  While the strong Democratic showing in the midterm election assured that there wouldn’t be a change of control in...

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  • US Policy
Fri December 2, 2022

Congress Averts Rail Strike

In my youth I worked on Capitol Hill running a House and Senate office. It gave me an inside view of how Congress operates, and one of the secrets is that Congress can move with remarkable speed if they want. While we all know about the filibuster, partisan deadlock, and...

  • US Policy
Mon November 28, 2022

Fed releases November FOMC minutes, Congress returns

Last Wednesday the Federal Reserve released the minutes from the November FOMC meeting.  At the time of the meeting the Committee released a rather dovish statement that was followed by a more hawkish Chair press conference.  At the time I cautioned that, while hawkish, the Chair made clear that a...

  • US Policy
Mon November 21, 2022

Fed Minutes and Lame Duck Congress

While Wednesday may be a slow news day as investors and everyone else make final preparations for putting turkeys in the oven, for financial markets it is a big day as the Federal Reserve releases the minutes from the November Federal Open Markets Committee (FOMC) meeting.  As I have written...

  • US Policy
Fri November 18, 2022

New Congress leadership decided, much work to do before yearend

This past week saw the framework established for the new Congress which gets sworn in on January 3. Speaker Nancy Pelosi ended her 20 years as leader of the House Democrats serving as the first, and only, woman Speaker. Much has been written about the role she played in managing...

  • US Policy
Tue September 6, 2022

Congress returns, Powell speaks, Midterms only 2 months away

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,...

  • US Policy
Mon August 29, 2022

Fed reaction, Congress in September, and Midterms

The long awaited speech by Fed Chair Powell set the tone for further rate increases as markets anticipate the next meeting of the Federal Open Markets Committee (FOMC) on September 20/21. As Chair Powell spoke he was likely haunted by his remarks in 2021 when he addressed the potential transitory...

  • US Policy
Mon August 22, 2022

Powell speaks, Congress agenda and Midterms

Friday could be a big day for Fed Watchers as Chair Jay Powell will address the annual gathering of Fed officials and economists at Jackson Hole, Wyoming.  The confab is organized each year by the Kansas City Fed.  Chair Powell is scheduled to speak Friday at 10:00 EDT. Chair Powell...

  • US Policy
Fri July 22, 2022

Fed and Congress home stretch

Next week the Fed’s long anticipated July meeting of the Federal Open Markets Committee (FOMC) occurs on Tuesday and Wednesday.  At the conclusion of the meetings Fed Chair Powell will meet the press at 2:30pm on Wednesday.  These briefings can be market-moving events and immediately follow the announcement of the...

  • US Policy
Mon April 11, 2022

Russia trade legislation proceeds as Congress goes home for recess, Fed watch is on, Early look at 2022 Election

:Congress passes legislation stripping Russia of favorable trade treatment with US.Fed telegraphing 50bps rate hike in May.Midterm elections: House likely to flip, Senate tight races, first look at PA. Congress has gone home for two weeks for the Easter/Passover break.  With Congress out of town I will start to look...

  • US Policy
Tue February 22, 2022

Congress on recess with busy month of March ahead, Ukraine dominates news

The world is focused on Putin’s Made in Russia Ukraine crisis.  Russia has leverage provided by its role in providing oil and gas to Europe, it will be seen in coming days what impact the crisis has on global energy markets. Is diplomacy over to resolve crisis?  Is the support...

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