Interest money

On The Money – Inflation is losing ground to other medium-term issues

Voters still see inflation as the main medium-term problem, but other issues are growing. We’ll also look at agricultural industry concerns about a possible railroad strike, liberal pushes for marijuana reform, and additional billions in US military aid.

But first, read about five defining moments from Queen Elizabeth II’s reign.

welcome to money, your nightly guide to everything related to your bills, bank account, and bottom line. For The Hill, we are Sylvan Lane, Aris Folley and Karl Evers-Hillstrom. Subscribe here.

Fewer Americans cite inflation as major problem: survey

Fewer Americans said inflation was their biggest problem ahead of November’s midterm elections than in recent months, according to a new poll released Thursday.

Thirty percent of respondents in the NPR-PBS Newshour-Marist poll listed inflation as their top issue in the upcoming election, up from 37% in July.

  • The change comes after inflation slowed in July and gasoline prices fell from their all-time high in June.
  • Yet inflation remains the issue most frequently cited as “the most important,” ahead of abortion and health care, according to the poll.
  • In another Gallup poll this week, 56% of Americans said inflation caused moderate or severe financial hardship.

New numbers on the way: All eyes are on Tuesday’s Consumer Price Index report, which will show whether inflation continued to subside in August.

The Hill’s Julia Shapero has more on the NPR poll here.

DISEMBARKATION CONCERNS

Farm groups urge Congress to prevent ‘devastating’ rail strike

More than 30 leading farm groups on Thursday urged lawmakers to avoid a railroad strike that would halt food shipments and could cripple the U.S. economy.

In a letter to key lawmakers, farm groups warned that farmers rely on rail freight to move their goods and that any kind of shutdown would likely result in the loss of food supplies, driving up prices and exacerbating risk famine in the world.

“A rail freight shutdown would significantly worsen inflation, especially for those who can least afford it,” they wrote.

  • About 115,000 railway workers could go on strike as early as September 16 if they cannot reach a contractual agreement with the railways.
  • It would disrupt a host of industries that depend on freight to ship their products, including grain, fertilizer, steel, plastics and coal.

Karl has more here.

BIG LUCK?

Pressure mounts for Biden to tackle marijuana decriminalization

Democrats are beginning to press President Biden to undertake marijuana reform as Congress struggles to find a way forward on decriminalization and the party considers what is possible before the mid- warrants.

The Liberals have gained momentum just two months from the November election with back-to-back victories on key elements of Biden’s agenda, from student loans to health care and tax reform.

  • On the campaign trail, some Democratic candidates are becoming increasingly vocal on the issue, seeking to rekindle what they see as not only a moral imperative but a smart political move to maintain their majority.
  • Although the issue crops up periodically, Biden has been careful not to sound overly enthusiastic about it. He campaigned in 2020 to support what many progressives are calling for, including banning anyone from going to jail for recreational purposes and allowing states to legalize it, but he’s been slow to sign any kind of executive action granting broad federal rules.

Aris and Hanna Trudo break it down here.

EVENT INVITATION

You’re Invited: A New Housing Market: Affordability, Access, and Equity, Tuesday, September 20 at 8 a.m. ET

The housing market, boosted by two years of scorching demand and shrinking housing supply, is finally cooling. And while skyrocketing mortgage rates for homebuyers have dominated recent headlines, the rental market is experiencing its own share of dramatic price increases and competition. What is the current US housing landscape and how are soaring interest rates and rental costs impacting US families? Representatives Emanuel Cleaver (D-Mo.) and French Hill (R-Ark), Diane Yentel of the National Low Income Housing Coalition, Danielle Hale, chief economist of Realtor.com, and Janneke Ratcliffe of the Urban Institute. RSVP today to attend in person or get a live stream link.

AID TO UKRAINE

US to send $2 billion to Ukraine, 18 other countries threatened by Russia

The United States intends to send an additional $2 billion in military support to Ukraine and 18 neighboring countries threatened with Russian attacks, Secretary of State Antony Blinken announced Thursday during a visit to Ukraine. Kyiv.

Defense Secretary Lloyd Austin also announced another arms package to Ukraine on Thursday worth up to $675 million, a promise made during his meeting with allies working to keep Ukraine safe. equipped “for the long haul” in the midst of the Russian invasion.

The new aid would push the US security assistance commitment to Ukraine past the $15 billion mark since August 2021, and more than $14.5 billion since the invasion began. Russian.

Ellen Mitchell of The Hill has the details here.

Good to know

Sen. Bernie Sanders (I-Vt.) on Thursday lambasted the side deal that Senate Majority Leader Charles Schumer (DN.Y.) and Sen. Joe Manchin (DW.Va.) struck earlier this summer to adopt a controversial proposal to facilitate the development of energy projects based on fossil fuels.

Schumer told reporters on Wednesday that he plans to tie Manchin’s licensing reform bill to the interim spending measure that must be passed by September 30 to prevent the government shutdown.

Here’s what else we’ve got our eyes on:

  • Sen. Amy Klobuchar (D-Minn.) asked for a committee vote on a bill to give media the ability to collectively bargain with tech platforms after saying a passed amendment proposed by Sen. Ted Cruz ( R-Texas) was preventing the bipartisan agreement reached by the senators before Thursday’s meeting.
  • The Biden administration has announced a new goal to make the use of geothermal energy – the renewable energy that comes from the heat found inside the earth – “widespread” as it seeks to move away from fossil fuels.
  • The Bank of England said on Thursday that paper money bearing the likeness of Queen Elizabeth II was still legal tender after her death.

That’s all for today. Thanks for reading and check out The Hill’s Finances page for the latest news and coverage. Well see you tomorrow.

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