House Passes $1.1T Appropriations Bill
January 16, 2014
House Passes $1.1T Appropriations Bill; CPI Gained 0.3% in December
On the Hill
- The House of Representatives passed the bipartisan $1.1 trillion omnibus appropriations bill, which will fund the government through September 30, 2014. The 1,582-page omnibus package included all 12 annual spending bills. The bill now travels to the Senate for approval.
- Today, the White House will meet with more than 100 college and university presidents to discuss how to increase enrollment and retention rates, particularly among low-income students. The administration has clashed in recent months with some in the higher education community because of President Obama’s proposal to rate colleges and universities based on factors such as low-income enrollment, graduation rates, and average debt and salaries.
- Initial jobless claims, which show the number of individuals filing for unemployment insurance for the first time, decreased slightly to 326,000 – the lowest level in the last month. The four-week moving average, which tends to stabilize weekly volatility, is 335,000.
- The Consumer Price Index gained 0.3% in December after no gains during the previous month. Excluding food and energy, the CPI gained 0.1%.
- Treasury International Capital data declined in November 2013, with an outflow of $29.3 billion. TIC tracks the flow of treasury securities, agency securities, corporate bonds, and corporate equities in and out of the United States.
- Goldman Sachs fourth quarter profits fell to $2.33 billion, a decrease of 19% compared to last year. This was in large part due to a 15% revenue decrease from client trading in fixed income, currencies and commodities.