Dr. Glauber on crop insurance | EPA could delay decision to add electric vehicles to RFS
EPA finally released its summertime E15 decision, and we have some of the impacts in the Energy & Climate Change section. We also note a Reuters item that says EPA may delay its decision to add EVs to the RFS. MARKET FOCUS Equities today: Global stock markets were mostly higher overnight. Some European markets were closed for a holiday. U.S. stock indexes are pointed toward slightly higher openings. In Asia, Japan +0.9%. Hong Kong closed. China closed. India closed. In Europe, at midday, London closed. Paris closed. Frankfurt closed.
Another quarter-percentage point increase in the Fed Funds rate this Wednesday would lift the benchmark fed-funds rate to a 16-year high. Until now, officials have been looking for clear signs of a slowdown and easing inflation to justify an end to rate rises. But after this week, that could flip. Officials could need to see signs of stronger than expected growth, hiring and inflation to continue raising rates.
RUSSIA/UKRAINE — U.S. struggles to replenish munitions stockpiles as Ukraine war drags on. More than a year after Russia's full-scale invasion of Ukraine, U.S. plans to increase production of key munitions have fallen short due to shortages of chips, machinery and skilled workers. Years of stop-start Pentagon funding for munitions led companies to close production lines or quit the industry, while output of many components and raw materials moved overseas.