| Senate passes 2-year budget deal, sending bill to Trump | | |  | THU, AUG 01, 2019 | | | | | | WHERE BUSINESS AND POLITICS CONVERGE | | | | Hi everyone,
We blinked and it's August. Congress is officially on summer recess after the Senate voted to pass a 2-year budget deal. President Trump touted the "phenomenal" deal, which now heads to his desk for signature.
Not so phenomenal? The reaction to yesterday's Fed decision. Trump vented his frustration in a tweet, saying Fed Chair Powell "let us down." Trump's chief complaint, and what dragged markets sharply lower, was that Powell called the quarter point rate cut a "midcycle adjustment" and signaled there is no guarantee of future rate cuts. Patti Domm reports on investor reaction and what we learned from Powell's press conference.
ICYMI, we got a BIG surprise this afternoon when Trump announced (via tweet) that the U.S. will impose 10% tariffs on $300 billion worth of Chinese goods starting September 1st. Markets didn't like this news one bit. The announcement comes on the heels of trade talks in Shanghai earlier this week, which the Trump administration had called "constructive." Yun Li reports on what we know about this unexpected development.
Programming note: We'll get another read on the economy tomorrow morning. Ylan Mui will be live from the Labor Dept. at 8:30aET for the release of the jobs report. Join us for live coverage before you start your weekend.
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| | Senate passes 2-year budget deal, sending bill to Trump | | The Senate on Thursday passed a bill to raise the U.S. budget and lift the debt ceiling for the next two years. The bill passed the House last week despite weak support from Republicans, even after Trump urged them to vote for the deal. | | | | | | The two words from Jerome Powell that rocked the financial markets | | Fed Chairman Jerome Powell sent the market reeling after he says the Fed's first rate cut in a decade does not mean policymakers will follow up with an aggressive rate-reducing regime. The markets had been widely expecting a very dovish Fed and instead heard a more hawkish commentary from Powell. | | | | | | Capital Exchange
The New American Workforce
Near the top of every company's list of challenges is finding the best workers to stay competitive in a tight labor market. At the same time, millions of workers live paycheck to paycheck while facing the prospect of their jobs being automated out of existence. How can the public and private sectors work together to ensure a steady supply of workers with the right skills, while providing greater economic opportunity for more Americans?
| | The New American Workforce October 3, 2019
Washington D.C. | | Capital Exchange
Growth in the Heartland
Small and medium sized businesses are the engine of the U.S. economy, as well as local economies. As once struggling regional cities experience a renaissance with companies and young workers returning to the urban core, we ask how policy and incumbent businesses can turbocharge this trend.
| | Growth in the Heartland December 4, 2019
Washington D.C. | |
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