GOP senators under pressure to fill Ginsburg seat on Supreme Court: AP
Amy Barrett is a front-runner to replace Ginsburg on Supreme Court: Reuters
US set to pass 200,000 coronavirus deaths: Reuters
Global trade rebounds faster than expected: WSJ
Defying White House, UN doesn’t support reimposing Iran sanctions: Politico
Russia announces international sales of its coronavirus vaccine: WSJ
HSBC, Britain’s biggest bank, charged with Ponzi scheme: BBC
China’s support for global economy will likely be modest: SCMP
BoA economists are skeptical that higher inflation is near: II
US Consumer Sentiment Index rises in September to six-month high: UoM

● The New Map: Energy, Climate, and the Clash of Nations
Daniel Yergin
Review via USA Today
At a time when solid facts and reasoned arguments are in retreat, Daniel Yergin rides to the rescue. The Pulitzer Prize-winning author and energy savant is armed to the teeth with enough telling statistics to sink an oil tanker in “The New Map: Energy, Climate, and the Clash of Nations.”
While most “experts” predicted a decade ago that peak oil production was imminent, to be followed by a slippery slope of declining supply, Yergin said they were wrong. As usual, he was right.
The big issue today is not supply, it’s demand. When will our voracious appetite peak for all that plentiful oil, gas and coal?

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US Shares Lose Ground For A Third Week: US stocks fell this week at the close of trading on Sep. 18. Vanguard Total US Stock Market (VTI) was off fractionally this week, slipping two basis points. Trivial, although the setback was enough to mark the ETF’s first run of three straight weekly declines so far in 2020.

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Equity strategies focused on growth and momentum were the top-performing risk factors before the coronavirus crash and nothing’s changed during the market’s rebound from its March 23 low. Although all equity factors have bounced, growth and momentum have bounced higher, based on a set of exchange-traded funds through yesterday’s close (Sep. 17).
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Congress focuses on bill to avoid a government shutdown: WSJ
Judge blocks ‘politically motivated’ changes to US Postal Service: Reuters
China responds to US envoy’s visit to Taiwan with military drills: BBC
US economic confidence rebounds but still far below pre-pandemic level: Gallup
US housing starts fell in August–first monthly setback since April: NMN
Philly Fed Mfg Index: expansion continues in September but at slower pace: MW
US jobless claims fall more than expected, dropping to new pandemic low: CNBC

The Federal Reserve yesterday announced that it would keep interest rates near zero for “some time” until the economy generates full employment and inflation is “moderately” above the central bank’s 2% target. Judging by the new economic projections released by the Fed, rates will remain on hold for several years.

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Hurricane Sally leaves 550,000 without power on US Gulf Coast: BBC
Federal Reserve expects to keep rates near zero for years: CNBC
CDC chief: coronavirus vaccine may not be ready until mid-2021: WSJ
Are weekly jobless claims figures reliable? NYT
Snowflake stock more than doubles — largest software IPO in history: CNBC
Homebuilder sentiment increases to record high in September: CNBC
US retail spending continued rising in August: NYT

Lower For Longer: If it wasn’t already clear, the Federal Reserve has no plans to raise interest rates any time soon. Noting that inflation continues to run “persistently below” its 2% target and the labor market remains well below its “maximum” mandate for full employment, the central bank announced that it “expects to maintain an accommodative stance of monetary policy until these outcomes are achieved.”

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Since the US stock market hit bottom on March 23, the subsequent rally has been swift but uneven. An elite set of sectors have outperformed the broad market, based on a set of ETFs through yesterday’s close (Sep. 15). The majority, however, are still playing catch-up.
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Hurricane Sally remains a threat to US Gulf Coast states: CNN
Israel signs pact with two Gulf Arab states at White House: AP
US retail sales growth expected to slow in today’s August report: WSJ
Fed economic forecasts expected to edge up in today’s policy meeting: Reuters
OECD projects global GDP on track for “unprecedented” decline in 2020: CNBC
UK inflation falls to a five-year low: CNN
US import-price inflation increased more than expected in August: CNBC
NY Fed Mfg Index: growth picks up in September in bank’s region: MW
US industrial output growth continued to slow in August: Reuters