Fed Rates, Hackers, Zika, and more – TenCount 8.15.16

The Federal Reserve left interest rates unchanged at its meeting last month, but it hinted of a growing chance that rates would increase later this year. On Wednesday, Fed watchers will try to read the tea leaves from that session when the Fed releases the minutes of that July meeting, at which one member of the Federal Open Market Committee voted for a quarter-point increase. The Fed won’t meet again until Sept. 20, but Fed watchers this week will also have their eyes on the Bureau of Labor Statistics’ consumer price report, due out Tuesday morning. Analysts expect little change in prices, meaning that continued low inflation could let the Fed continue to lean in the direction of keeping rates steady. The stock market has been heating up this summer, and last week saw a rare occurrence: O ...

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TPP, Big Data, and what everything else that happening this week in Washington – TenCount 8.1.16

Washington in August, from a local newspaper in 1800: “The intense heats of the season, actually remind us of the immense superiority which the City of Washington will enjoy, even when it shall become populous, over every other city, perhaps, which ever existed, in its numerous open grounds and the noble spaciousness of its streets and avenues.” Such optimism notwithstanding, beginning the following year the city shut down each August to prevent outbreaks of bilious fever. The threat of fevers no longer keep modern-day politicians from exercising their authority in the District of Columbia in August – unless you count Congress, which of course is on recess until after Labor Day. The Obama Administration is in residence, however, and on Tuesday the president will host Singapore Prime ...

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Trade Under Fire – TenCount 7.25.16

Now it’s the Democrats’ turn. The Democratic National Convention begins Monday afternoon in Philadelphia, and a feast of well-known names are lined up for prime-time addresses. On Monday, Michelle Obama and Senator Bernie Sanders take to the stage, while on Tuesday the headliner will be Bill Clinton. President Obama and Vice President Biden hold forth Wednesday night, and of course Hillary Clinton – preceded by her daughter, Chelsea – headlines Thursday. Manufacturing and trade got plenty of attention at the RNC, and it’s certain to get similar treatment in Philadelphia. The Alliance for American Manufacturing will get the ball rolling on Monday with a discussion, “Trade, Manufacturing and Jobs: How To Rebuild the Middle Class.” Tune in here for the webcast. Just as it did at the RNC, Poli ...

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Shadow Banking, FinTech, and More Financial Services – TenCount 7.11.16

The House and Senate have five days left before taking off on a seven-week vacation, so naturally they have delayed a major piece of legislation until the last minute. In addition to fights over gun control and Zika funding, both houses are slated to vote this week on a reauthorization of the Federal Aviation Administration, whose current funding expires Friday. Although at 14 months the new bill meets the accounting definition of long-term, it is not the kind of comprehensive overhaul that members of Congress keep insisting that they want to pass. Funding stays level and a few measures are aimed at shortening times at security checkpoints. Expect more fireworks on Tuesday over the decision not to prosecute Hillary Clinton for the unauthorized use of a personal email server. Attorney Gener ...

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Brexit, Brexit, Brexit – TenCount 6.27.16

Brexit, Brexit, Brexit. Economic news will continue to be dominated this week by discussion of the United Kingdom’s decision to leave the European Union. As currency and other financial markets try to stabilize themselves Monday, the European Central Bank begins a three-day Forum on Central Banking, with the E.C.B. President Mario Draghi, Fed Chair Janet Yellen and Bank of England Governor Mark Carney headlining in Portugal. Britain’s exit leaves Germany as the unquestioned economic power in the E.U.; the question now is how it will wield that power. A hint might come Monday in Berlin, when German Chancellor Angela Merkel hosts French President Francois Hollande and Italian Prime Minister Matteo Renzi, as well as E.U. President Donald Tusk. Then on Tuesday, leaders of all the E.U. countrie ...

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