The Fed in Focus
The Senate is expected to vote tonight on Stephen Miran’s nomination to join the Federal Reserve. And we may get a decision today on Lisa Cook’s future.
A confirmation of Miran — widely expected — would allow him to quickly join his peers at the Federal Open Market Committee’s rate-setting meeting, which starts Tuesday. The Fed is expected to cut interest rates for the first time since December, the question is mainly whether it will be a quarter point or a half.
“I think you have a big cut,” President Donald Trump told reporters on Sunday on his way back to Washington. “It’s perfect for cutting.”
Any cuts can’t come quick enough for the White House, which has been agitating for the Fed to move more aggressively. Bloomberg Economics expects a quarter-point cut, with dissents in both directions.
Miran, who chairs the White House Council of Economic Advisers, told senators earlier this month that he would take an unpaid leave of absence to join the Fed, filling a seat unexpectedly vacated by Adriana Kugler. The term expires in January and there is no clarity yet on whether Trump would nominate him for a full 14-year term once the temporary post ends or ask him to return to his White House role.
Another Fed seat is also potentially in play, as Cook’s lawsuit winds through the courts. The administration has asked for the court to rule today on Cook’s lawsuit challenging Trump’s attempt to dismiss her. She described an Atlanta property at the center of the allegations of mortgage fraud as a “vacation home” in a loan estimate weeks before buying it. The documents appear to contradict other records used by the administration in her dismissal.
Meanwhile, Chairman Jerome Powell’s term expires in May. BlackRock executive Rick Rieder is rising up the list to replace him, Saleha Mohsin reports.
Time Keeps on Slipping, Slipping
Congress has 16 calendar days before a Sept. 30 funding deadline that could shut down the government, but the actual timeline is tighter, Maeve Sheehey reports. The House and Senate are each scheduled to be in session for less than half — seven — of those days.
A weeklong recess is planned for Rosh Hashanah, which begins on Monday, Sept. 22 and runs through the evening of Wednesday, Sept. 24. That doesn’t leave a lot of time for comity.
There’s some bipartisan momentum behind extending enhanced Affordable Care Act subsidies, which some Democrats and moderate Republicans see as a path forward, though it could be fraught.
“If that’s included in this CR that’s proposed next week, all hell will break loose on the House floor,” Freedom Caucus Chair
How Well Do You Know Washington — Monarchy Edition
The president and First Lady Melania Trump are to be the guests of King Charles III and Queen Camilla this week, staying at Windsor Castle. It will be their second state visit, having been hosted by Queen Elizabeth II in 2019.
Which of these two-term US presidents had more than one UK state visit (which has more ceremonial features than an official working visit):
A) Dwight Eisenhower
B) Barack Obama
C) Ronald Reagan
D) All of the above
E) None of the above
Scroll down for the answer.
Social Media Blamed for Fanning Divisions
Plenty of discussion on the Sunday talk shows about the murder of Charlie Kirk. Utah Gov. Spencer Cox blamed social media companies for helping foment divisiveness that led to the killing of the conservative activist. He called them “conflict entrepreneurs” that profit from political polarization.
Charges are expected to be filed Tuesday, when we may learn more about the killer’s motives.
Show Me the Redistricting, Missouri
Missouri’s Republican-dominated legislature gave final approval to new congressional lines designed to wrest another House seat from Democrats in the 2026 election, Greg Giroux reports.
The Missouri Senate voted 21-11 Friday for a map that clearly advantages Republicans in seven of eight House districts and splinters the compact, Democratic-leaning Kansas City constituency of Rep. Emanuel Cleaver, one of two Democrats in Missouri’s delegation.
It’s the latest in the tit-for-tat redistricting war as Trump pushes to solidify Republican control of the House, following action from Texas and a response from California. Read More
Did You Ace the Quiz?
Toast yourself with a cup of tea if you chose Option E — None of the above.
Trump is the only US president invited for a second UK state visit.
Also Read: Trump’s Love for UK Royalty Offers Starmer Hope of Brief Respite
Before You Go
Mamdani + Trump: Trump told Fox News on Friday that it looks likely that Zohran Mamdani is going to become the next mayor of New York City. The candidate, who only just snagged the endorsement of New York Gov. Kathy Hochul and whom Trump has referred to as a “communist lunatic,” told Bloomberg News he would “be happy to work with the president.” Incumbent Mayor Eric Adams is likely to drop his bid for another term, a News12 reporter said in a social media post. Trump also disparaged Republican nominee Curtis Sliwa, saying he is “not exactly prime time” and lives with too many cats. Meow. Read More
“We’re Going to Memphis": Trump also said on Fox that he plans to deploy the National Guard to Memphis in the latest effort to crack down on what the administration sees as rampant crime in some cities. Read More
Chip Fight: As US and Chinese officials headed into a second day of negotiations over tariffs, China ruled that chipmaker Nvidia violated anti-monopoly laws when it acquired networking gear maker Mellanox Technologies in 2020. Over the weekend, China also said it was launching an anti-dumping investigation targeting a type of semiconductor made by US companies including Texas Instruments. Read More
DC Court Judges: The House is expected to vote this week on a bill that would grant the president sole authority to nominate judges to Washington, DC’s busiest local court, eliminating the district’s 52-year-old commission used to identify candidates for the bench. Read More
FTC Eyes CFPB Vacuum: The Federal Trade Commission, charged with enforcing consumer protections, is seizing on a regulatory opening as the Trump administration dismantles the Consumer Financial Protection Bureau. Read More
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