This Week In Washington DC, Sep 25, 2014

This Week In Washington

Top 5 Stories

1.      The US, joined by Bahrain, Jordan, Qatar, Saudi Arabia, and the UAE, began aerial bombardment of ISIS positions in Syria. The airstrikes also targeted the Khorasan Group, described by Pentagon officials as comprised of "seasoned al-Qaida veterans."

Look ahead: The airstrikes are just one component of a multifaceted campaign that President Obama and other leaders predict will continue for some time.

2.      During an appearance at the U.N. Climate Summit, the president characterized climate change as an "urgent and growing threat" requiring the leadership of the world's largest nations. In a subsequent address to the U.N. General Assembly, Obama called on every nation to act on global warming.

Look ahead: The European Union unveiled new emissions targets, while the U.S. and China maintained existing targets and touted progress toward their goals.

3.      Corporations are scrambling to determine the effects of the Treasury Department's new rules on taxation of offshore income, which are designed to dis-incentivize corporate tax inversions.

Look ahead: The new regulations will not impede the merger between Burger King and Tim Horton's, but could impact a host of pending inversions.

4.      In the three West African countries hardest hit by the Ebola outbreak—Liberia, Guinea, and Sierra Leone—a total of more than 2,800 people have died and 5,843 have been infected, up from 1,346 deaths and 2,458 infections one month ago, according to a report from the World Health Organization.

Look ahead: The CDC reports Liberia and Sierra Leone could see 21,000 Ebola cases by Sept. 30 and 1.4 million cases by Jan. 20 if the outbreak is not controlled.

5.      In a result that reassured British investors, Scottish voters on Sept. 18 rejected a bid to sever their bonds with the United Kingdom.

Look ahead: U.K. Prime Minister David Cameron hailed the "clear result" of the referendum and pledged certain powers to Scotland, in keeping with an earlier agreement with Deputy Prime Minister Nick Clegg, and Labour leader Ed Miliband.

This Week In Washington DC, Sep 18, 2014

This Week In Washington DC

Top 5 Stories

1.      The House approved President Obama's plan to equip and train members of the Syrian opposition as part of the administration's strategy against ISIS. The president emphasized the US will not deploy ground troops in Iraq, despite Joint Chiefs of Staff Chairman Gen. Martin Dempsey's refusal to rule out the possibility.

Look ahead: Even absent a U.S. infantry presence, experts say small special forces teams could operate alongside Iraqi troops, providing guidance and calling in air support.

2.      The House approved a continuing resolution to fund the government through Dec. 11 and reauthorize the Export-Import Bank through June 2015.

Look ahead: The Senate is scheduled to begin consideration of the stopgap funding measure this afternoon; a vote on passage could occur several hours later.

3.      The Federal Reserve announced plans to conclude the central bank's monthly asset purchases in October, but left unchanged its forward guidance that the federal funds rate should remain near zero for "a considerable time" after the end of quantitative easing.

Look ahead: Fed officials increased slightly their projections for the benchmark rate at the end of 2015, suggesting a swifter rate rise than had previously been forecast.

4.      The Census Bureau reported the national poverty rate dipped from 15% in 2012 to 14.5% last year—the first decline since 2006—as more Americans obtained full-time employment, and the child-poverty rate decreased from 21.8% to 19.9%.

Look ahead: The decline is attributable to population growth, as the number of Americans living at or below the federal poverty line was unchanged and household incomes remained flat.

5.      Scottish voters head to the polls today in a referendum on independence from the United Kingdom, weighing national identity against economic certainty. Nationalists argue Britain has deprived Scotland of its share of oil and gas revenues, but are accused of relying on an unduly optimistic assessment of the industry.

Look ahead: A vote for independence could create risks, but also opportunities, in Edinburgh, Royal Bank of Scotland and Lloyd's Bank have threatened to shift their legal bases to London.

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