Many GOP leaders believe this bill is the last chance to undo Obamacare this year since the deadline to pass Healthcare legislation with a simple 51 majority expires at the end of September.
Last week, the FOMC signaled the Fed is still on track to raise rates once more this year in December , barring negative surprises.
Accordingly, the Street will be closely watching how Fed officials respond to potential dips in the data, especially the Core PCE Inflation reading at the end of the week.
“Given anticipated weather-related disruptions to many key ‘hard’ data series over the next couple of months, Fed policymakers may put more weight on business surveys near term in order to gauge the underlying health of the economy,” write Brett Ryan and Matthew Luzzetti of Deutsche Bank Research.
Everyone knows the good times will eventually end, but the Street pushes the trade to the brink, betting they won’t be left without a chair when the music stops playing.
- MARK-TO-MARKET: The hidden pulse behind the US labor marketQuad City Times
- World Week Ahead: Tonnes of Fed speak aheadThe National Business Review
- Who killed US inflation? Here are suspects in Yellen's mysteryMoneyweb.co.za
- Tax cuts, rate rises – it doesn't add upThe Times
- Yellen and Cohn Said to Be on Shortlist to Lead Federal ReserveNew York Times
- Fed officials ponder slow inflation with December rate hike on tableGulf Times
- Whatever The Fed Does... It's BullishSeeking Alpha
- FED reaffirms its monetary strategyKuwait News Agency
- Election results and central banks put investors on noticeBrisbane Times