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Welcome to The Hill’s Business & Economy newsletter
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Business & Economy
Business & Economy
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The Big Story
Trump cancels funding meeting with Democrats
President Trump on Tuesday canceled a meeting with Democratic congressional leaders aimed at preventing a government shutdown, saying their demands were ridiculous and that no meeting could be productive.
The decision, unless it is reversed, means Trump will not meet with Senate Minority Leader Charles Schumer (D-N.Y.) and House Minority Leader Hakeem Jeffries (D-N.Y.) on Thursday, and greatly increases the chance of a shutdown on Oct. 1.
“After reviewing the details of the unserious and ridiculous demands being made by the Minority Radical Left Democrats in return for their Votes to keep our thriving Country open, I have decided that no meeting with their Congressional Leaders could possibly be productive,” Trump posted on Truth Social.
He then outlined a litany of policies he says Democrats are backing that aren’t popular with the general public, and thus helped him get elected.
Democrats blasted Trump’s decision, arguing he would be to blame if the government did shut down on Oct. 1.
“Trump Always Chickens Out. Donald Trump just cancelled a high stakes meeting in the Oval Office with myself and Leader Schumer,” Jeffries posted on X. “The extremists want to shut down the government because they are unwilling to address the Republican healthcare crisis that is devastating America.”
Read more here.
Welcome to The Hill’s Business & Economy newsletter, I’m Sylvan Lane — covering the intersection of Wall Street and Pennsylvania Avenue.
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Essential Reads
Key business and economic news with implications this week and beyond:
Powell signals Federal Reserve to move slowly on interest rate cuts
Federal Reserve Chair Jerome Powell on Tuesday signaled a cautious approach to future interest rate cuts, in sharp contrast with other Fed officials this week who have called for a more urgent approach.
Full Story
What will 2026 IRS tax brackets be? New projection suggests increases to benchmarks
Americans received a glimmer of financial relief last week when the Federal Reserve cut rates for the first time this year, and indicated more cuts could be on the horizon. In just a few weeks, there could be signs of additional support.
Full Story
Kimmel’s return comes with high anticipation after Trump, FCC criticism
Jimmy Kimmel will make a widely anticipated return to late-night television on Tuesday night, only a week after ABC suspended him for making comments that ignited a political firestorm and national debate over free speech.
Full Story
Disney raising prices for streaming services
Disney is raising the price of its streaming services in October, a hike that comes as the company prepares to bring back one of its biggest Hollywood stars, late-night comedian Jimmy Kimmel, this week.
Full Story
In Other News
Branch out with more stories from the day:
What to know about Nexstar and Sinclair, the ABC affiliate owners preempting Jimmy Kimmel
NEW YORK (AP) — Two ABC affiliate owners say they’ll continue to preempt late night talk show …
Full Story
Good to Know
Business and economic news we’ve flagged from other outlets:
Google says 90% of tech workers are now using AI at work (CNN)
Altman, Huang and the last-minute negotiations that sealed the $100 billion OpenAI-Nvidia deal (CNBC)
What People Think
Opinions related to business and economic issues submitted to The Hill:
Two boulders are crushing Hawaii: Trump’s tariffs and the Jones Act
I’m an accounting professor. Semi-annual reporting is a half-baked idea.
