OVERNIGHT MONEY: Stopgap measure gets an airing

House and Senate leaders in both parties are expected to sit down on Thursday to chat about the fiscal challenges ahead, including the looming debt-ceiling issue set to come up next month. 

On Tuesday, there did not seem to be much confidence from Republican lawmakers that a vote would occur this week on a fiscal 2014 spending bill. 

“The continuing resolution introduced today is simply a temporary measure to keep the lights on in government until this Congress can fulfill its duty by approving appropriations bills for the next fiscal year,” Rogers said. 

{mosads}”This bill is free of controversial riders, maintains current funding levels, and does not seek to change existing federal policies.”

Rogers went on to say that “this is not the preferred way of doing the nation’s financial work.”

“This Congress can and should be passing regular appropriations bills that reflect the country’s changing fiscal needs and realities,” he said. 

“However, given the late date, a continuing resolution is necessary to stop a governmentwide shutdown that would halt critical government programs and services, destabilize our economy and put the safety and well-being of our citizens at risk.”

The Senate has said it will wait to see what the House decides. 

WHAT ELSE WE’RE WATCHING

Stopping payments: A House Ways and Means Committee subcommittee will hold a hearing on a couple of bills on Wednesday that would end improper payments to prisoners, including unemployment insurance. 

Happy Birthday: A House Financial Services subcommittee will help the Federal Reserve blow out 100 birthday candles with policy experts on hand Wednesday. The central bank is celebrating its 100th this year. There could be talk about who might replace Fed Chairman Ben Bernanke next year, whether the central bank’s stimulus has helped bolster economic growth and should continue and what lessons have been learned that could be used going forward. 

Spending talk: A Senate Appropriations subcommittee will sit down with acting Federal Communications Commission Chairwoman Mignon Clyburn and FCC Commissioners Ajit Pai and Jessica Rosenworcel to discuss the agency’s 2014 budget request. 

Looking to India: A Senate Banking, Housing and Urban Affairs subcommittee will examine the investment and market access policies in India. There have been some concerns lately that India is putting new restrictions on U.S. exports. 

ECONOMIC INDICATORS

MBA Mortgage Index: The Mortgage Bankers Association releases its weekly report on mortgage application volume.

Wholesale Inventories: The Commerce Department will release its wholesale trade report for July, which includes sales and inventory statistics from the second stage of the manufacturing process. The sales figures say close to nothing about personal consumption and therefore do not move the market. 

WHAT YOU MIGHT HAVE MISSED

— Camp: Ways and Means ‘to step up the pace’ on tax reform

— Tea Party rejects GOP’s latest strategy for defunding ObamaCare

— FDIC not insuring deposits in foreign branches of U.S. banks

— Hoyer vows to oppose spending bills that include sequester cuts

— Liberal group urges Dems to reject new GOP temporary spending plan

— Top business group makes push for fast-track authority

— City dwellers get millions in farm payments, report finds

— GOP chairman vows to lift ‘yoke of Dodd-Frank’ from credit unions

— Dallas Fed sets $14 trillion price tag on financial crisis

— Budget experts: US at risk of default starting Oct. 18

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