THURSDAY … Second-quarter GDP revision is out at 8:30 a.m. … Chicago Fed President Austan Goolsbee will speak at a Peterson Institute event at 9 a.m. … Fed Gov. Lisa Cook speaks at a Dallas Fed event at 1 p.m. … Sen. Elizabeth Warren (D-Mass.) speaks at a Center for American Progress event on the CFPB’s Supreme Court case at 1 p.m. … The SEC has a closed door meeting at 1 p.m. … Fed Chair Jerome Powell speaks at a town hall at 4 p.m. FRIDAY … The personal consumption expenditures report for August is out at 8:30 a.m. … The CFTC has a closed meeting at 9 a.m. … Several Treasury officials will speak at an Urban Institute event on climate change and household finances at 1 p.m. … Strike watch — Biden will head to Michigan this week to picket alongside UAW members. “His decision to stand alongside the striking workers represents perhaps the most significant display of union solidarity ever by a sitting president,” our Nick Niedzwiadek reports. “‘Pretty hard-core,’ said one union adviser, who spoke anonymously because they were not authorized to speak publicly.” — Speaking of “hardcore.” The UAW escalated its rolling strike to include three dozen Stellantis and General Motors facilities across 20 states, Nick reports. — Former President Donald Trump went on the offensive on Truth Social in advance of Biden’s planned visit. Meanwhile, Transportation Secretary Pete Buttigieg used an appearance on CNN’s State of the Union on Sunday morning to call for a “win-win” deal. “Record profits should lead to record pay and record benefits for the workers who are creating all of that benefit,” he said, according to our Kierra Frazier. HOW SINEMA GOT SAVED — Sen. Kyrsten Sinema (I-Ariz.) told our Natalie Fertig she was brought into the negotiations over the cannabis banking bill in June by Majority Leader Chuck Schumer (D-N.Y.), who tasked her with getting Republicans to the table. Sinema said she convened a working group to negotiate provisions involving how banks address reputational risk. “You want to make sure that a company that's doing solar panels, or cannabis, isn't discriminated against because someone doesn't like that industry. Sinema said, explaining her thought process on the section that has caused so much conflict over the past few months. “It’s policy neutral.” How involved is she? Three different Senate staffers involved in the discussions on both sides of the aisle confirmed that she was part of the core negotiations in the past few months. When Natalie asked Sen. Kevin Cramer (R-N.D.): “She's sort of the whisperer,” Cramer said. “Kyrsten has the ability to both be persuasive when necessary … but she also has the ability to reassure.” Everyone’s saying this — Bloomberg’s Mark Niquette, Jarrell Dillard, and Michael Sasso: “Inflation has cooled down from a year ago, but that’s failing to allay the pain of Americans who are still paying up at gas pumps and grocery aisles. As a result, there’s a growing disconnect between policymakers, who point to cooling inflation indicators as a sign of progress, and people who are struggling to make ends meet.” Fascinating — The WSJ’s Caitlin McCabe and Ben Dummett profile Pentwater Capital Management, a Florida hedge fund that’s made millions betting against FTC Chair Lina Khan’s attempts to block high-profile mergers.
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