The Week Ahead: Sept. 22, 2024
— Welcome to the first day of fall. — Harris leads Trump in latest polls, gains ground as third-party candidates emerge. A new NBC News poll shows Vice President Kamala Harris with a 5-point lead over former President Donald Trump among registered voters (49% to 44%), buoyed by a 16-point rise in her favorability since July — the largest spike in NBC polling since post-9/11 President George W. Bush. When factoring in third-party candidates, Harris’ lead expands to 47% against Trump’s 41%. Despite this, Trump retains an edge on key issues like the economy and inflation, though his advantage has diminished. A separate CBS News poll also places Harris ahead, with a 4-point lead nationally and 2 points in battleground states. CBS rated all of the seven key swing states in its polling model as tossups, with Harris holding an edge within the margin of error in all but two. — Vice President Kamala Harris accepted CNN’s invitation to debate former President Donald Trump on Oct. 23, challenging him to a second public showdown as the 2024 campaign enters its final weeks. Harris expressed eagerness to engage Trump again, urging him to join her on stage. This debate, set for CNN’s studios in Atlanta, would follow their initial face-off in June, which altered the course of the race when President Biden exited and endorsed Harris. Trump said Saturday afternoon that it’s “too late to do another” debate. “She’s done one debate. I’ve done two. It’s too late to do another. I’d love to, in many ways, but it’s too late. The voting is cast,” Trump said during a campaign event in Wilmington, N.C. “She’s had her chance to do it with Fox,” Trump said. “You know, Fox invited us on, and I waited and waited, and they turned it down. They turned it down, but now she wants to do a debate right before the election with CNN because she’s losing badly.” — Republican support for Jill Stein’s candidacy raises Democratic concerns over spoiler effect in 2024. Some Republicans, including allies of Donald Trump, are backing Green Party candidate Jill Stein in a bid that could divert liberal voters from Vice President Kamala Harris in key battleground states like Michigan, Wisconsin, and Pennsylvania. Democrats fear Stein may play a spoiler role, as she did in 2016 when her vote totals exceeded Trump’s margins of victory in these states. While Stein champions her campaign as a necessary challenge to the two-party system, her candidacy has raised alarm within Democratic ranks, especially as she garners support from 1% of the electorate in critical regions. Link to more via the Wall Street Journal. Of note: The Supreme Court refused Friday to intervene in the Green Party’s efforts to put presidential candidate Stein on the ballot in the battleground state of Nevada for the November election. The Nevada Green Party had asked the justices to halt a ruling from the state’s high court that keeps Stein off the ballot. The state court said the party failed to meet the requirements for ballot access and that signatures it collected had to be invalidated. — The Georgia State Election Board approved a new rule today requiring counties to hand-count the number of ballots cast at polling places on Election Day. The decision comes 45 days before the election. Critics worry this could delay the reporting of election night results. — Sen. Ted Cruz (R-Tex.) is facing a potentially competitive race for re-election in 2024, though he still maintains an advantage. Recent polls show a tightening race between Cruz and his Democratic challenger, Rep. Colin Allred: However, Cruz still holds some key advantages: Perspective: Texas has not elected a Democrat to statewide office since 1994, and Republicans have generally increased their margins of victory in recent elections. Some factors making the race potentially competitive include: Bottom line: While the race appears to be tightening, most analysts still consider Cruz the favorite. The Cook Political Report categorizes the race as “Likely Republican,” indicating it is not seen as highly competitive at the moment but has the potential to become more engaged. While Cruz faces a potentially closer race than in previous years, he still maintains an advantage in polling averages, fundraising, and historical voting patterns in Texas. However, Democrats see the race as one of their best opportunities to flip a Senate seat in 2024. — The owner of the dormant Three Mile Island nuclear plant in Pennsylvania will invest $1.6 billion to revive it, agreeing to sell all the output to Microsoft as the tech giant seeks carbon-free electricity for data centers to power the AI boom. Microsoft signed a 20-year deal with Constellation Energy, a power company, to restart a nuclear plant in Pennsylvania, the site of a partial meltdown in 1979. If approved by regulators the plant, which closed in 2019, would re-open in 2028 and supply energy to data centers powering AI. — U.S. to ban Chinese, Russian tech in smart cars amid security concerns. The U.S. Commerce Department is set to propose new rules banning Chinese and Russian hardware and software in connected vehicles, with an official announcement expected as early as Monday. According to Reuters, the restrictions aim to address cybersecurity risks by preventing China or Russia from hacking or tracking vehicles through their technology. The proposed bans will focus mainly on software but will also include some hardware used in automated driving and vehicle communication systems. The Biden administration’s broader goal is to protect U.S. drivers and strengthen the domestic auto industry. — Biden’s tariff hikes on Chinese goods, including EVs and solar cells, set to take effect Friday. Tariffs on select Chinese-made products will sharply rise, with electric vehicles facing a 100% tariff, solar cells seeing a 50% increase, and electric vehicle batteries, critical minerals, steel, aluminum, face masks, and ship-to-shore cranes rising to 25%. The tariff hikes, first announced by President Biden in May, follow the continuation and intensification of tariffs originally imposed by former President Trump on $300 billion worth of Chinese goods. Additional tariffs on products like semiconductor chips are set to roll out over the next two years. — Summit Carbon faces scrutiny from landowners over carbon sequestration pipeline expansion. Summit Carbon Solutions has spent recent weeks hosting community meetings across Iowa regarding the expansion of its carbon sequestration pipeline. With a proposed additional 330 miles of pipeline, landowners and opponents are more informed and vocal compared to the initial phase, raising concerns about environmental impact, water usage, and liability in case of leaks, reports Iowa Capital Dispatch (link). The company is emphasizing community benefits and economic gains from the project, while opposition groups, like Bold Alliance, encourage landowners to resist signing easements. Tensions remain high as both sides continue to debate the project’s expansion. |
| WASHINGTON FOCUS |
We are nearing the end of September so that means Congress must be in a “rush” to get funding completed for the new fiscal year that starts Oct. 1, even though they have had a long time to do the work but failed.
Another topic lawmakers have had a long time to finish is a new farm bill, with recent chatter that talks are “about” to take place to try to get the topic out of its quicksand.
— The short-term government funding bill that Congress will attempt to pass this week will keep federal agencies open until Dec. 20, according to reports. House Republicans are largely rejecting former President Trump’s push for a government shutdown tied to a proof-of-citizenship voting bill. Despite widespread support within the GOP for election security measures, many lawmakers believe that forcing a shutdown would harm their chances in the upcoming November election. Trump has been vocal about his demand for absolute election security assurances, even advocating for a shutdown if the bill is not passed. However, GOP leaders, including Speaker Mike Johnson (R-La.), are pivoting towards a clean stopgap measure until Dec. 20 to avoid a shutdown, acknowledging the political risks.
Republicans argue that a shutdown would not only hinder campaigning efforts for those in tight races but also damage national security by weakening the U.S. in the eyes of its enemies and allies. This sentiment is shared by Senate Minority Leader Mitch McConnell (R-Ky.), who called a shutdown “politically beyond stupid” and warned that the GOP would bear the blame.
The usual House GOP blusters think otherwise. Some Republicans, like Rep. Ralph Norman (R-S.C.) and Rep. Chip Roy (R-Texas), are comfortable with a shutdown to force action on spending cuts and voter citizenship measures. But the majority of House Republicans see a shutdown as detrimental.
Bottom line: Most Republicans are choosing to prioritize political strategy and national stability over Trump’s hardline stance. Who says lawmakers can’t be practical?
— Negotiations for stopgap funding bill focus on riders and special funding, Ukraine aid in play. As noted, lawmakers are negotiating a temporary spending bill to extend gov’t funding through Dec. 20, with discussions centered on legislative riders and special funding requests. Items being considered include extra funds for the Secret Service, veterans’ health care, disaster relief, and Ukraine aid.
GOP conservatives remain cautious about additional aid to Kyiv, while appropriators aimed to finalize the bill by the weekend for votes this week. The bill’s goal is to avoid a partial gov’t shutdown by the Sept. 30 deadline.
Of note: Ukrainian President Volodymyr Zelenskyy plans his fourth wartime visit to Washington this week to try to shore up the sometimes-unsteady American commitment to his country’s defense against Russia. Zelenskyy will meet with President Joe Biden at the White House on Sept. 26 and will meet separately with Vice President Kamala Harris, said White House press secretary Karine Jean-Pierre in a statement.
— The House unanimously voted Friday to pass a bill bolstering Secret Service protection for major presidential and vice-presidential candidates. The move comes in the wake of two assassination attempts targeting former president Trump. Also today, the acting Secret Service director acting admitted a breach of protocol before the first assassination attempt, saying employees “will be held accountable.”
Also on Friday, the acting Secret Service director admitted a breach of protocol occurred before the first assassination attempt, saying employees “will be held accountable.”
— House rejects Biden’s EV mandate as eight Democrats join GOP in vote. The House voted 215-191 for a joint resolution to overturn the Biden administration’s EPA vehicle emissions rule, which effectively mandates electric vehicle (EV) adoption. Eight Democrats joined Republicans in opposing the rule, citing concerns about its impact on U.S. manufacturers and jobs, especially in states like Michigan. The EPA’s standards require a significant increase in EV sales by 2032, raising concerns over production costs and market readiness. Despite opposition, three Democratic Senate candidates, including Michigan’s Elissa Slotkin, supported the mandate, fueling debate ahead of the elections.
Of note: Biden has promised to veto the resolution, which is unlikely to override the veto.
— The new farm bill saga continues, but many farmers are focusing on other things. The House Ag Committee on May 23 passed its bill, titled the “Farm, Food, and National Security Act of 2024” (HR 8467), with a vote of 33-21, including support from four Democrats. At the time, Ag Chairman GT Thompson (R-Pa.) said that he would urge House GOP leadership to hold a vote in September. Still nothing on the House agenda regarding a new farm bill.
Senate Ag Chair Debbie Stabenow (D-Mich.) has still not released official text of her version, and thus the Congressional Budget Office cannot score it, at least officially. It’s the equivalent of a basement approach in writing a new farm bill. Stabenow now says rather than pushing ad hoc disaster/financial aid for the ag sector, it’s better to push for a new farm bill.
Thompson is optimistic about passing the farm bill during the lame-duck session after Nov. 5 elections. That raises the question: Are House GOP leaders not in sync with Thompson’s farm bill ideas and is that the reason there will not likely be a September House farm vote?
Thompson mentioned the possibility of holding a “pre-conference” with the Senate to expedite negotiations. Thompson said he had spoken with Stabenow and USDA Secretary Tom Vilsack, and emphasized the need to bring key stakeholders together soon.
While portions of the current farm bill expire on Sept. 30, lawmakers have until Dec. 31 before funding for farm and nutrition programs runs out. In 2023, lawmakers extended policies from the 2018 Farm Bill for one year.
No further farm bill extension at this time. House Ag ranking member David Scott (D-Ga.) confirmed that leaders had agreed not to seek an extension in the continuing resolution, with the aim of passing a full five-year reauthorization. Scott said he is “cautiously optimistic,” noting a shared urgency among congressional agriculture leaders.
Vilsack voiced optimism during a press call, pointing to ongoing discussions as a positive sign for completing the bill by year-end… if as he said, people “get practical.”
Key House/Senate differences include the use of funds from the 2022 Inflation Reduction Act (IRA) for climate-smart practices, with the House wanting to redirect them for general conservation efforts, while the Senate aims to keep the climate provisions intact. Other major policy differences include food and nutrition spending and big differences over the level of reference prices under the Title I safety net.
Thompson indicated a willingness to negotiate on these issues, including the use of IRA dollars. Other sticking points include changes to the Supplemental Nutrition Assistance Program (SNAP/Thrifty Food Program) and the USDA Secretary’s authority over the Commodity Credit Corporation (CCC). The House proposal would make the tool for setting SNAP benefits cost-neutral, while the Senate proposal would maintain current policies.
Thompson noted that while there are still “red lines,” they are starting to “fade,” and he remains committed to protecting the farm safety net. “Without that, we don’t have food. We don’t have farmers,” he said.
Some farm bill stakeholders are questioning the role of Budget Chairman Jody Arrington (R-Texas) relative to his apparent reluctance to convince higher up GOP House officials of the need for additional funding and to put the measure on the House floor for a vote.
Bottom line: A growing number of farmers are not focusing on the farm bill but (1) Seeking guidance for the 45Z biofuel tax credit program and (2) Pushing ag disaster and financial aid yet this year. Farmers know that even if a new farm bill is completed this calendar year, the first of any Title I payments would come October 2026. You read that correctly.
Of note: In Monday’s Updates, we have an article providing some reasons why it has taken so long to get more guidance for the 45Z tax credit program.
— The House is scheduled to consider the Fix Our Forests Act (HR 8790) this week. The Fix Our Forests Act aims to restore forest health, increase resilience to catastrophic wildfires, and protect communities by expediting environmental reviews and increasing the pace and scale of forest restoration projects.
Key provisions:
• Simplifying and speeding up environmental reviews for forest management projects in high-risk wildfire areas
• Promoting collaboration between federal, state, tribal and local entities on wildfire mitigation
• Encouraging controlled burning backed by science while acknowledging tribal sovereignty for cultural burning practices
• Creating a framework to prioritize projects in forests at highest risk of catastrophic wildfire
• Limiting frivolous lawsuits that delay forest management projects
• Allowing agencies to conduct critical forest management work concurrently with environmental analysis
• Enabling agencies to adopt categorical exclusions from full environmental review for certain forest projects
The bill was introduced by House Natural Resources Committee Chairman Bruce Westerman (R-Ark.) and Rep. Scott Peters (D-Calif.), demonstrating its bipartisan support. It passed through the House Natural Resources Committee in June 2024 and is now heading to the full House floor for consideration after a Rules Committee vote on Monday.
Supporters argue the bill will provide federal land managers with critical tools to implement vital forest management projects more quickly. However, some environmental groups may raise concerns about streamlining environmental reviews.
Of note: Consideration of this bill comes as wildfires have already burned over 2 million acres in the U.S. in 2024, highlighting the urgency of addressing forest management and wildfire prevention.
| |
| OTHER EVENTS & HEARINGS |
Monday, Sept. 23
• President Joe Biden meets with United Arab Emirates President Sheikh Mohamed bin Zayed Al Nahyan at the White House and then travels to New York to participate in the 79th session of the UN General Assembly.
• Federal Reserve. Atlanta Fed President Raphael Bostic and Chicago Fed President Austan Goolsbee, and Minneapolis Fed President Neel Kashkari are scheduled to speak.
• Clinton Foundation meeting. Clinton Foundation annual Clinton Global Initiative meeting; runs through Tuesday. Speakers include former President Bill Clinton, former Secretary of State Hillary Clinton, Treasury Secretary Janet Yellen, acting Labor Secretary Julie Su, EPA Administrator Michael Regan, First Lady Jill Biden and state officials.
• National Association of State Departments of Agriculture annual meeting, through Wednesday, Indianapolis.
• Trade issues. National Customs Brokers and Forwarders Association of America 2024 Government Affairs Conference, runs through Tuesday; Includes remarks from Customs and Border Protection and the Federal Maritime Commission.
• Immigration policy. Brookings Institution virtual discussion on “U.S. Immigration Policy: Separating Fact from Fiction.”
• Global energy markets. Council on Foreign Relations discussion on the current state of global energy markets.
• Housing affordability. Brookings Institution discussion on “Making housing more affordable: Issues at stake in the 2024 election.”
• International Development Association funds. World Bank news conference to announce Denmark’s early financial commitment to the International Development Association, the fund for 77 low-income countries.
Tuesday, Sept. 24
• Federal Reserve. Fed Governor Michelle Bowman delivers remarks on Economic Outlook and Monetary Policy.
• Clinton Foundation meeting/Vilsack. Final day of the Clinton Foundation annual Clinton Global Initiative Meeting; USDA Secretary Tom Vilsack participates in a session on “Food as A Tool to Empower Communities and Drive Climate Smart Solutions.”
• Women in Agribusiness Summit, through Thursday, Denver.
• Climate and agriculture risks. Reuters Newsmaker discussion on “ways banks can integrate climate change into risk management frameworks, better improve regulation and standardization of climate-related exposures and protect high-risk portfolios such as property and agriculture.”
• Climate change and food security. Council on Foreign Relations discussion on “Accelerating Solutions at the Intersection of Climate Change and Food Security.”
• China WTO compliance. Office of the U.S. Trade Representative hearing on China’s compliance with its World Trade Organization commitments.
• Nutrition program reforms. House Ways and Means Committee hearing on “Reforming Temporary Assistance for Needy Families (TANF): States’ Misuse of Welfare Funds Leaves Poor Families Behind.”
• Cronobacter and infant formula. USDA’s Food Safety and Inspection Service meeting of the National Advisory Committee on Microbiological Criteria for Foods to discuss updates on FSIS’ Genomics charge and the Food and Drug Administration’s Cronobacter spp. in powdered infant formula charge.
• Small businesses. PunchBowl News event, “The Convening on Small Business, America’s Future,” focusing on the small business ecosystem and economic future of the nation.
• International economic policy. Council on Foreign Relations discussion on “U.S. international economic policy.”
• Ozempic and Wegovy. Senate Health, Education, Labor and Pensions Committee hearing on “Why Is Novo Nordisk Charging Americans with Diabetes and Obesity Outrageously High Prices for Ozempic and Wegovy?”
• Presidential immunity decision. Senate Judiciary Committee hearing on “When the President Does It, that Means It’s Not Illegal: The Supreme Court’s Unprecedented Immunity Decision.”
• Homeland Security contracting. Senate Homeland Security and Governmental Affairs Committee hearing on “Safeguarding the Homeland: Examining Conflicts of Interest in Federal Contracting to Protect America’s Future.”
• Boeing plans. House Transportation and Infrastructure Aviation Subcommittee hearing on “Implementation of Boeing’s Comprehensive Action Plan.”
• SEC oversight. House Financial Services Committee hearing on “Oversight of the Securities and Exchange Commission (SEC).” SEC Chairman Gary Gensler and SEC commissioners testify.
• China’s political warfare. House Oversight and Accountability Committee hearing on “Defending America from the Chinese Communist Party’s Political Warfare, Part III.”
• Cyber threats. Senate Foreign Relations East Asia, the Pacific and International Cybersecurity Policy Subcommittee hearing on “Cyberspace Under Threat in the Era of Rising Authoritarianism and Global Competition.”
• U.S. withdrawal from Afghanistan. House Foreign Affairs Committee hearing on “An Assessment of the State Department’s Withdrawal from Afghanistan by America’s Top Diplomat.” Secretary of State Antony Blinken has been invited to testify.
• Markup of Blinken contempt of Congress report. House Foreign Affairs Committee markup of a Committee Report, recommending the House of Representatives find Secretary of State Antony Blinken in contempt of Congress for refusal to comply with a subpoena duly issued by the Committee on Foreign Affairs and markup of other legislation. The vote on contempt of Congress will be held if Blinken does not testify at the hearing on the withdrawal from Afghanistan.
• Student loan debt forgiveness issues. House Education and the Workforce Higher Education and Workforce Development Subcommittee hearing on “GAO Uncovers Biden-Harris FAFSA (Free Application for Federal Student Aid) Failures.”
• Johnny Cash statue. House of Representatives dedication ceremony for the statue of the late Johnny Cash, a Hall of Fame musician and Arkansas native.
• Rural disability. Urban Institute virtual forum on “Elevating Rural Disability Data for Policy Impact.”
• 2024 elections. Brookings Institution virtual discussion on “The 2024 U.S. Presidential Election and the Future of Multilateralism.”
Wednesday, Sept. 25
• Federal Reserve. Fed Governor Adriana Kugler speaks on the Economic Outlook. Farm Credit, CFTC nominations. Senate Agriculture, Nutrition and Forestry Committee hearing on the nominations of Marcus Graham to be a member of the Farm Credit Administration Board; and Julie Brinn Siegel to be a commissioner of the Commodity Futures Trading Commission.
• Cronobacter in infant formula. Second day of the Food Safety and Inspection Service (FSIS) meeting of the National Advisory Committee on Microbiological Criteria for Foods’s Subcommittees on Genomics and on Cronobacter spp. in Powdered Infant Formula to discuss updates on FSIS’ Genomics charge and the Food and Drug Administration’s Cronobacter spp. in powdered infant formula charge.
• Dietary Guidelines Advisory Committee meeting, through Thursday.
• Weaponization of the federal government. House Judiciary Select Weaponization of the Federal Government Subcommittee hearing on “Weaponization of the Federal Government.”
• Housing affordability. Senate Budget Committee hearing on “The Costs of Inaction: Economic Risks from Housing Unaffordability.”
• Basel III. House Financial Services Financial Institutions and Monetary Policy Subcommittee hearing on “Regulatory Recipe for Economic Uncertainty: The Endless Basel Endgame and an Onslaught of Hurried Rulemaking Undertaken by the Administration.”
• Disaster mitigation. House Transportation and Infrastructure Economic Development, Public Buildings and Emergency Management Subcommittee hearing on “Examining the Role and Effectiveness of Building Codes in Mitigating Against Disasters.”
• Biden economic policies. House Oversight and Accountability Economic Growth, Energy Policy, and Regulatory Affairs Subcommittee hearing on “Kitchen Table Economics: How Failed Biden/Harris Policies Continue to Hurt Consumers.”
• SEC oversight. Senate Banking, Housing and Urban Affairs Committee hearing on “Oversight of the U.S. Securities and Exchange Commission.” SEC Chairman Gary Gensler testifies.
• Taxation issues. Brookings Institution’s Hamilton Project virtual discussion on “Taking on Tax: Modernizing Partnership Taxation.” Senate Finance Chairman Ron Wyden (D-Ore.) delivers remarks.
• FAA oversight of Boeing. Senate Homeland Security and Governmental Affairs Investigations Subcommittee hearing on “FAA Oversight of Boeing’s Broken Safety Culture.”
• U.S. border policy. House Oversight and Accountability National Security, the Border, and Foreign Affairs Subcommittee hearing on “The Border Crisis: The Cost of Chaos.”
• Small business tax issues. Senate Finance Fiscal Responsibility and Economic Growth Subcommittee hearing on “Providing Small Business Relief from Remote Sales Tax Collection.”
Thursday, Sept. 26
• Federal Reserve. Fed Chair Jerome Powell delivers pre-recorded opening remarks at a US Treasury Conference in New York and Fed Vice Chair for Supervisions Michael Barr delivers remarks on Supervision and Regulation. Fed Governor Adriana Kugler delivers remarks on Financial Inclusion in a chat with Boston Fed President Susan Collins. Fed Governor Michelle Bowman speaks on the Economic Outlook and Monetary Policy. Fed Governor Lisa Cook speaks at a roundtable on Artificial Intelligence and Workforce Development and later delivers remarks on Artificial Intelligence and the Labor Force. Fed Vice Chair for Supervision Michael Barr participates in a chat with Minneapolis Fed President Neel Kashkari. New York Fed President John Williams scheduled to speak.
• Dietary Guidelines Committee. Health and Human Services Department virtual meeting of the 2025 Dietary Guidelines Advisory Committee to provide subcommittee updates, including presentations by each subcommittee and deliberation by the full committee regarding progress made since the fifth public meeting, including evidence review and synthesis, draft conclusion statements, draft scientific report and plans for future Committee work.
• Trump tariff, deportation and Fed plans. Peterson Institute for International Economics virtual discussion on “The Economic Effects of Trump’s Plans for tariffs, Deportations, and the Fed.”
• PFAS exposure. Senate Environment and Public Works Chemical Safety, Waste Management, Environmental Justice, and Regulatory Oversight Subcommittee hearing on “Examining the Public Health Impacts of PFAS (per- and polyfluoroalkyl substances) Exposures.”
• Postal service election readiness. House Appropriations Financial Services and General Government Subcommittee hearing on “United States Postal Service’s Role in 2024 Election Mail Readiness.”
• EPA and impact on small towns. Environmental Protection Agency holds a meeting of the Local Government Advisory Committee’s Small Communities Advisory Subcommittee to discuss several priority issues at the EPA and its implications on smaller towns, such as climate communication, environmental justice and water issues.
• DSCC and the 2024 elections. Democratic Senatorial Campaign Committee news conference “to update the press and public on election 2024 issues and opportunities, as well as discuss target races and the impact of the Harris/Walz ticket.”
• Transatlantic geoeconomics. Atlantic Council GeoEconomics Center Transatlantic Forum on GeoEconomics with remarks from U.S. Ambassador to China Nick Burns.
• Trump assassination attempt. House Task Force on the Attempted Assassination of Donald J. Trump Committee hearing on “The Ongoing Investigation of the Butler, Pennsylvania Security Failure: The Secret Service’s Reliance on State and Local Law Enforcement.”
• Cronobacter in infant formula. Final day of the Food Safety and Inspection Service meeting of the National Advisory Committee on Microbiological Criteria for Foods to discuss updates on FSIS’ Genomics charge and the U.S. Food and Drug Administration’s Cronobacter spp. in powdered infant formula.
• U.S. foreign policy. House Foreign Affairs Oversight and Accountability Subcommittee hearing on “Foreign Policy, Interrupted: How Fraud, Waste, and Abuse Blunt America’s Impact Abroad.”
• FHFA policies. House Financial Services Housing and Insurance Subcommittee hearing on “Vanishing Independence: How FHFA’s (Federal Housing Finance Agency) Political Agenda Endangers Homeowners and Taxpayers.”
• U.S. southern border impacts. House Homeland Security Emergency Management and Technology Subcommittee hearing on “Given the Green Light: Open Border Policies and Threats to Law Enforcement.”
Friday, Sept. 27
• Federal Reserve. Fed Governor Michelle Bowman participates in a discussion at the Alabama Bankers Association meeting.
• Economic issues. Final day of the Brookings Institution virtual Brookings Papers on
• Military drones. The Center for Strategic and International Studies (CSIS) holds a virtual discussion on “Army Unmanned Aircraft Systems.”
• Climate, water issues. Final day of the Environmental Protection Agency meeting of the Local Government Advisory Committee to discuss climate communication, environmental justice, the EPA’s efforts to address cumulative impacts, and water system restructuring.
| ECONOMIC REPORTS & EVENTS |
A flurry of Federal Reserve speakers this week could add perspective on last week’s 50-basis-point cut in interest rates.
Monday, Sept. 23
• Chicago Fed National Activity Index
• PMI Composite Flash
• Federal Reserve. Atlanta Fed President Raphael Bostic and Chicago Fed President Austan Goolsbee, and Minneapolis Fed President Neel Kashkari are scheduled to speak.
Tuesday, Sept. 24
• S&P CoreLogic Case-Shiller HPI
• FHFA House Price Index
• Richmond Fed Manufacturing
• Consumer Confidence
• Federal Reserve. Fed Governor Michelle Bowman delivers remarks on Economic Outlook and Monetary Policy.
Wednesday, Sept. 25
• Federal Reserve. Fed Governor Adriana Kugler speaks on the Economic Outlook.
• New Home Sales
Thursday, Sept. 26
• Jobless Claims
• Durable Goods Orders
• GDP
• Pending Home Sales Index
• KC Fed Manufacturing
• Fed Balance Sheet
• Money Supply
• Federal Reserve. Fed Chair Jerome Powell delivers pre-recorded opening remarks at a U.S. Treasury Conference in New York and Fed Vice Chair for Sup3ervisions Michael Barr delivers remarks on Supervision and Regulation. Fed Governor Adriana Kugler delivers remarks on Financial Inclusion in a chat with Boston Fed President Susan Collins. Fed Governor Michelle Bowman speaks on the Economic Outlook and Monetary Policy. Fed Governor Lisa Cook speaks at a roundtable on Artificial Intelligence and Workforce Development and later delivers remarks on Artificial Intelligence and the Labor Force. Fed Vice Chair for Supervision Michael Barr participates in a chat with Minneapolis Fed President Neel Kashkari. New York Fed President John Williams scheduled to speak.
Friday, Sept. 27
• International Trade in Goods
• Personal Income & Outlays
• Wholesale Inventories
• Consumer Sentiment
• Federal Reserve. Fed Governor Michelle Bowman participates in a discussion at the Alabama Bankers Association meeting.
| KEY USDA & INTERNATIONAL AG & ENERGY REPORTS & EVENTS |
USDA updates food price projections on Wednesday.
OPEC will publish its World Oil Outlook 2024 on Tuesday at the ROG.e conference in Rio de Janeiro, one of several energy industry and environment gatherings during the week.
Monday, Sept. 23
Ag reports and events:
• Export Inspections
• Cotton Ginnings
• Chickens & Eggs
• Crop Progress
• JRC MARS bulletin - crop monitoring in Europe
• IAOM Eurasia Conference & Expo, Baku, Azerbaijan, day 1
• Unica cane crush, sugar production (tentative)
Energy reports and events:
• Climate Week NYC; runs through Sunday
• ROG.e energy industry conference, Rio de Janeiro; runs through Thursday
• Holiday: Saudi Arabia, Japan
Tuesday, Sept. 24
Ag reports and events:
• IAOM Eurasia Conference & Expo, Baku, Azerbaijan, day 2
Energy reports and events:
• API weekly U.S. oil inventory report
• OPEC to launch World Oil Outlook 2024 at ROG.e energy industry conference, Rio de Janeiro
• SNEC Energy Storage & Battery Conference, Shanghai; runs through Friday
• WindEnergy Hamburg; runs through Friday
• Energy Trading Week, London; runs through Wednesday
• International Gas Conference, Hungary; runs through Wednesday
Wednesday, Sept. 25
Ag reports and events:
• Food Price Outlook
• Peanut Stocks and Processing
• Poultry Slaughter
• Broiler Hatchery
• IAOM Eurasia Conference & Expo, Baku, Azerbaijan, day 3
• Malaysia’s Sept. 1-25 palm oil exports
Energy reports and events:
• EIA Petroleum Status Report
• Weekly Ethanol Production
• Genscape weekly crude inventory report
• Aurora Hydrogen Conference, London
• Brent November options expire
Thursday, Sept. 26
Ag reports and events:
• Export Sales
• Fruit and Tree Nuts Outlook
• Cold Storage
• Hogs and Pigs
• Potatoes
• Port of Rouen data on French grain exports
• India Sugar & Bio-energy Conference, New Delhi, day 1
Energy reports and events:
• EIA Natural Gas Report
• Singapore onshore oil product stockpile weekly data
Friday, Sept. 27
Ag reports and events:
• CFTC Commitments of Traders report
• Egg Products
• Agricultural Prices
• Peanut Prices
• Turkeys
• FranceAgriMer’s weekly crop condition report
• India Sugar & Bio-energy Conference, New Delhi, day 2
Energy reports and events:
• North Sea programs due (November)
• Baker-Hughes Rig Count
• ICE weekly Commitments of Traders report for Brent, gasoil
| KEY LINKS |
WASDE | Crop Production | USDA weekly reports | Crop Progress | Food prices | Farm income | Export Sales weekly | ERP dashboard | California phase-out of gas-powered vehicles | RFS | IRA: Biofuels | IRA: Ag | | Russia/Ukraine war, lessons learned | | SCOTUS on WOTUS | SCOTUS on Prop 12 pork | New farm bill primer | | Gov’t payments to farmers by program | Farmer working capital | USDA Ag Outlook Forum |