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Letter from Washington

Political Insider

2:30 PM EDT:  Fed Chair Powell’s news conference, live on C-SPAN.I will forward a transcript as soon as it becomes available.  

This morning’s Wall Street Journal preview leads with:

Federal Reserve officials are on track to leave interest rates unchanged at their two-day meeting ending Wednesday and could indicate they are comfortable holding them steady for a while.

The central bank in January signaled a pause in rate increases, and officials are ready to announce more details of how they will end the runoff of their $4 trillion asset portfolio later this year. The Fed has taken some action to withdraw stimulus from the economy every quarter since late 2016, and that streak will end this week.

The central bank releases its new policy statement at 2 p.m. EDT along with updated economic projections and any potential addendum to its balance sheet plans. Fed Chairman Jerome Powell will start his press conference at 2:30 p.m. 

See last night’s Bloomberg preview as well.

President Trump’s schedule (EDT):

11:30 AM:  Daily intelligence briefing;

12:10 PM:  Departs the White House, South Lawn en route to Joint Base Andrews;

  2:30 PM:  Delivers remarks at Joint Systems [Tank] Manufacturing Center, 1155 Buckeye Road, Lima, OH;

  5:00 PM:  Arrives McKinley Air Inc., 5400 Lauby Road, Suite 4, North Canton, OH;

  6:00 PM:  Participates in a roundtable with campaign supporters at Brookside Country Club;

  6:30 PM:  Attends a campaign fundraiser in Canton, Ohio; and

  9:00 PM:  Arrives back at the White House.

“Trump faces failing strategy on auto jobs as he heads to Ohio.”  Last night’s Politico article led with:

President Donald Trump heads to Ohio Wednesday embroiled in a fight with General Motors and the United Auto Workers over the closing of GM’s Lordstown plant. But his attempts to save manufacturing jobs have battered the auto industry and could erode his loyal base in the Midwest.






Political Insider

About Pete Davis

Pete Davis

Pete Davis advises Wall Street money managers on Washington, DC policy developments that affect the financial markets. Visit his website here daviscapitalinvestmentideas.yolasite.com.

Articles by Pete Davis

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