Trump Promises North Korea Sanctions, Senate Discusses Opioid Crisis
September 21, 2017
President Trump promises more North Korea sanctions; Senate Health Committee schedules hearing on opioid crisis; Eurozone consumer confidence at highest since 2001; US jobless claims fall, hurricanes’ impact still unclear.
- President Trump promises more North Korea sanctions. President Trump met with Afghan President Ashraf Ghani at the United Nations Thursday, and, in response to a question from a reporter, announced, “We will be putting more sanctions on North Korea.” While the UN did pass a number of resolutions to cut off labor, oil, and exports to North Korea, the President indicated he felt these efforts were insufficient. The President did not specify which additional sanctions he was considering, but reporters are expecting a brief from UN Ambassador Nikki Haley and Secretary Mnuchin later today. [The Hill]
- Senate Health Committee schedules hearing on opioid crisis. The Senate Health Committee has scheduled a hearing for October 5th to better understand the opioid crisis and the federal response to the issue. The hearing will focus on the 2016 Comprehensive Addiction and Recovery Act, which “authorizes the Attorney General and Secretary of Health and Human Services to award grants to address the prescription opioid abuse and heroin use crisis,” and the 21st Century Cures act, which apportions $1 billion in state grants to combat addiction. Testimony will come from a number of administration officials, including FDA Commissioner Scott Gottlieb. [The Hill]
Economic Indicators & News
- Eurozone consumer confidence at highest since 2001. Confidence in the euro-area rose unexpectedly this September, at a level not seen since 2001. Strong economic momentum, and the resulting bump in consumer confidence, is another reason the European Central Bank is altering its outlook assessments, which now predicts 2017 will be the fastest growth year in a decade. [Bloomberg]
- US jobless claims fall, hurricanes’ impact still unclear. Claims for state unemployment benefits declined by 23,000 to 259,000 for this past week, with some of the impact of Hurricanes’ Harvey and Irma inflating figures for Texas and South Florida. Texas’ previously high claims fell 23,549 this past week, and claims in Florida rose 5,133. While economists forecast jobless claims to rise to 300,000 for this week, these low figures indicate the impact on livelihoods may not be as severe as originally presumed in areas impacted by the storms. Jobless claims under 300,000 for the 133rd straight week indicate an ultra-tight US labor market that should soon lead to wage increases. [Reuters]