Recent economic indicators and data have pointed to a slow but steady recovery.
The EPA’s Renewable Fuel Standard (RFS) program is in shambles, creating uncertainty in the marketplace for producers and blenders, complicating compliance schedules, and opening the possibility for blend levels that can damage older vehicles.
A key piece of economic news was yesterday’s Case-Shiller Home Price Indices which showed a nationwide deceleration in the rate of home price appreciation. The national average is now rising at a rate of 6.2 percent over the past 12 months. The release generated some hand-wringing about the possibility that the housing recovery might stall, something that has clearly happened in Phoenix and other metropolitan areas.
Much has been said about the Comcast-Time Warner Cable (TWC) transaction, but not enough time or column inches have focused on the real market of interest, the innovative broadband ecosystem.
As the end of August recess quickly approaches, all eyes turn to the loaded September agenda. Included on the to-do list is the reauthorization of America’s official export credit agency (ECA), the Export-Import Bank. This year its renewal has attracted outsized political attention in comparison to the limited, albeit important, role the agency plays in helping American companies export their goods and services.
For the past couple of weeks, and for the next few, the nation’s children will return to classrooms eager and ready to learn. The National Retail Federation projects that more than $26.5 billion in back-to-school dollars will be spent- record breaking numbers. But for the over 50 million elementary and secondary public school students the headline reads glossy for some and gloomy for others.
Last week, Congressman John Kline, Chairman of the House Education and Workforce Committee and Senator Lamar Alexander, Ranking Member of the Senate HELP Committee requested a report by the General Accounting Office (GAO) on the Obama Administration’s waivers to the Elementary and Secondary Education Act (ESEA). This in-depth investigation is long overdue.
I am in Washington, DC so nothing is going on. It is August, so less than nothing is going on. (Proof? I watched reruns of a hearing on extraterrestrial life on CSPAN2 yesterday.) The one, single thing that has happened is that the president held meetings on administrative options for immigration reform with advocates and the business community.
President Obama devoted much of his press conference yesterday to declaring an interim victory in Iraq, due to Kurds taking control of a key dam near the town of Mosul. The momentary relief from the threat posed by ISIS may or may not prove to be a significant foreign policy moment.
The annual Fed conference at Jackson Hole, Wyoming commences on August 21. Officially sponsored by the Federal Reserve Bank of Kansas City, the conference has been since 1978 the most important meeting of global central bankers. This year’s focus is "Re-Evaluating Labor Market Dynamics,” a key issue across the globe.