Feds hold interest rates steady

Federal Reserve officials held interest rates steady at their Sept. 20 monthly policy meeting - only the second time doing so since embarking on a rate-raising campaign 18 months ago. 

But the hints made is what caught economists’ attention: That they don’t expect rates to end 2023 higher than they predicted in June. 

Since the hiking cycle began, observers have worried whether increased rates could push the economy into a recession already. 

However, the economy has been more resilient than expected. Now, economists are wondering whether the soft landing – a slowdown that avoids crashing the economy - has become a reality. (The Conversation 09/20/23) The Federal Reserve held off hiking interest rates − it may still be too early to start popping the corks (theconversation.com) 

UAW, clean energy agenda puts Dems in the middle

The United Auto Workers strike is pitting two of the Biden administration’s top issues - labor rights and the clean energy transition - against each other. Congressional Democrats are caught in the middle. 

Some 13,000 UAW members have been on strike for the past week, clamoring for higher wages, better benefits and assurances from Detroit’s “Big Three” automakers that the wave of new electric vehicle (EV) factories won’t leave workers behind. 

The walkout is heaping political pressure on House and Senate Democrats. 

The situation has created fresh jabs from Republicans, who see an opportunity to drive a wedge between progressive priorities.

Yet, in the face of mounting pressure, Democrats are marching to President Joe Biden’s pro-labor and pro-climate drumbeat, insisting the EV boom can support well-paying jobs, and that the country’s clean energy transition will be led by union workers. 

“Clearly, it’s being politicized,” said Sen. Gary Peters (D-Mich.), whose state is at the heart of the union fight. “These shouldn’t be two separate issues ... and have union workers making those vehicles.”

Democrats are also pushing back on the notion that the strike or broader concerns about labor in the clean energy economy could undermine the Biden administration’s climate agenda. (E&E Daily 09/22/23) Strike puts green Democrats in a bind - E&E News by POLITICO (eenews.net)