SUMMARY
As earnings season takes off, trans-Atlantic policymakers not on vacation remain fixed on economic, energy, and supply chain headwinds. President Biden returns home to a shrunken fiscal program now whittled down to healthcare policy possibilities. Even that isn’t assured in a 50/50 Senate still defining his economic program. Most congressional action this week is devoted to election-year messaging hearings of no real market significance. The Bank of Russia’s board of directors’ monetary policy meeting occurs at the end of the week. UK finance and central bank chiefs begin the week updating a worsening economic outlook at the annual Mansion House event.
Tuesday
10:00 a.m., the House Financial Services Committee examines US economic policy in support of Ukraine. A recent poll by the University of Maryland found respondents of the mind that the war is at stalemate.
10:00 a.m., Senate Energy and Natural Resources Committee witnesses discuss a proposed coast-to-coast hydrogen pipeline.
US Secretaries Blinken and Raimondo begin a two-day supply chain conference.
UK Chancellor of the Exchequer Zahawi and BoE Governor Bailey brief Mansion House participants on economic conditions as several labor stoppages continue.
Wednesday
The EU is set to release contingency plans concerning Nordstream 1 operations.
UK Tories scheduled final leadership voting round.
Friday
Bank of Russia monetary policy meeting concludes.
