US Policy
- US Policy
On Thursday, Treasury Secretary Janet Yellen officially notified Congress that the US had reached its statutory debt ceiling limit and that she, like her predecessors, would start using certain “extraordinary measures” to make sure the ceiling wasn’t breached. Here is a link to the official...
- US Policy
Debt Ceiling Key Issue for Republican House
Last week Treasury Secretary Yellen sent the Congressional leadership a letter advising them that the US will hit the statutory debt ceiling this Thursday, January 19th. In the letter the Secretary informs Congress that, like her Democratic and Republican predecessors, she will start using the “extraordinary measures” approved by Congress...
- US Policy
Debt Ceiling, State of the Union As New Congress Starts
Friday was a busy day for letters to and from Speaker McCarthy. The Speaker wrote a letter to the President inviting him to appear before a joint session of Congress on February 7 to deliver the annual State of the Union address. It will be a night of high drama...
- US Policy
Speaker Decided but Portending Trouble Ahead
After 15 ballots the US House finally elected Kevin McCarthy to be the 55th Speaker. It was the most ballots to determine a Speaker in over 100 years. Why is the Republican disunity of such concern to analysts like me who follow DC? The vote for Speaker is one of...
- US Policy
Policy Implications of the House Speaker Fight
As I write this note the House has gone through 11 ballots and still has no Speaker. Rumors continue of some deal that will get Kevin McCarthy the 218 votes he needs to be elected Speaker. At this point no real alternative has stepped forward and McCarthy seems to have...
- US Policy
Divided Government Begins
On a personal note, January 3rd of an odd numbered year always brings back memories of new beginnings on Capitol Hill. January 3rd is the date established in law for a new Congress to begin at noon. I remember the excitement of my first day working on The Hill. I...
- US Policy
Congress crosses the finish line
Friday saw the end of the 117th Congress, the 118th Congress with Republican control of the House begins at noon on January 3, 2023. I have written before how in DC speak the last big must pass bill for a session of Congress is often referred to as the last...
- US Policy
Congress enters final week of session, Fed reflections, FTX hearing
On Thursday Congress gave final approval to a one week Continuing Resolution (CR) funding the government until midnight on Friday, December 23. Passage of the one week CR gives the Congress five days this week to approve a budget for the remainder of the current fiscal year that began on...
- US Policy
Big Week: CPI, FOMC, FTX hearing, Government shutdown deadline
On Tuesday morning the government will release the CPI number for November. It will be a critical day as the Fed’s Federal Open Markets Committee (FOMC) is starting two days of meetings on the next move for interest rates on Tuesday as well. Obviously, the morning CPI number will be...
- US Policy
GA runoff as Congress faces 12/16 Government funding deadline
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 the Senate, a Warnock victory...
- US Policy
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...