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US Policy

  • US Policy
January 21

It was not a good week for Democrats in DC.  The Senate failed to break the filibuster on the two voting rights bills, and the President’s Build Back Better (BBB) is dead – what next? On the voting rights front there are serious talks proceeding...

Yohan Marion VgtSzzcOajg Unsplash
  • US Policy
January 18

Powell progresses, Budget next up

Key Takeaways Chair Powell got through Senate confirmation hearing and is on path to second term.  Biden nominates three more Board Members: two blacks, two women: more diversity. Fed rate decisions: surprise vs telegraph – Fed telegraphing March increase. Congressional appropriators meet to try and find agreement on budget for...

  • US Policy
January 14

Good Day For Powell, Bad One For Democrats

Fed Chair Powell got through his Senate confirmation hearing with no misstep and appears headed for Senate confirmation in the next few weeks.  In 2018 the vote on his nomination was 84 to 13 and I would expect another bipartisan vote in support this time as well.  Powell gets high...

  • US Policy
January 10

Powell confirmation hearing this week

Key Takeaways Tuesday Senate Banking Committee holds hearing on Jay Powell’s nomination to serve a second term as Fed Chair.  The 2018 vote to confirm was 84 to 13.  Will evenly divided Senate make vote tougher? Budget talks continue with no resolution in sight.  Biden decision to wait until March...

  • US Policy
January 7

Powell Hearing In Senate Next Week

Next week in DC, the headline event for financial markets will be the hearing before the Senate Banking Committee on the nomination of Jay Powell for a second term as Federal Reserve Board Chair.  At a time of rising rates and the Fed’s tapering of their portfolio, market analysts will...

  • US Policy
January 3

New Year – old issues still in the spotlight

Key Takeaways Congress returns with the potential of Democrats losing the House in midterms and, if so, this being the last year to get their agenda passed. What’s the future of Build Back Better (BBB) with Manchin opposition?  Roadmap to BBB 2.0. 1Q22 agenda not only BBB but confirmation of...

  • US Policy
December 20, 2021

Congress calls it quits for 2021

Key Takeaways Manchin pulls plug on Biden/Democratic domestic agenda in Budget Reconciliation Build Back Better (BBB) bill; and Dems need to make sure Manchin stays in their caucus or risk seeing Mitch McConnell as Majority Leader. Democrats have hailed BBB as the largest climate bill ever, but Joe Manchin represents...

  • US Policy
December 17, 2021

Washington Wraps Up Year

Congress is just about finished for the year with the Senate trying to confirm a group of 20 nominees for various Administration positions including some key Ambassadors to nations such as China and Japan. Majority Leader Schumer is trying to use the push to get home for Christmas as a...

  • US Policy
December 13, 2021

Week Debt Ceiling is resolved

Key Takeaways After passing a convoluted road to raise the debt ceiling Congress will act this week. Debt ceiling increase should remove risk until after 2022 elections Senate Democrats stuck on Biden’s Build Back Better (BBB) with Machin still not on board. Will expiring Child Tax Credit be engine that...

  • US Policy
December 10, 2021

Debt Ceiling Exit Strategy

The week started with no clear strategy to raise the debt ceiling which Treasury Secretary Yellen had estimated would be reached on or around December 15. However, Senators McConnell and Schumer, working with Speaker Pelosi, unveiled a rather complex scheme to raise the ceiling where Republicans permitted a vote to...

  • US Policy
December 6, 2021

Dash to end of year

Key Takeaways Congress funds government until February 18, 2022.  Can Congress reach an agreement before the next crisis to update spending priorities? Debt ceiling is the next crisis with no strategy in place. Jay Powell awaits hearings and confirmation by the Senate. Busy December Last week the Congress avoided a...

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