Senate Clears Stopgap Funding Bill, But Key House Votes Monday
EPA ag sector announcement coming | Trump says tariffs delivered growth, jobs and global leverage | SNAP work rules tighten Feb. 1 | USDA shifts sterile fly operations to reinforce New World Screwworm defense
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Video: Wiesemeyer’s Perspectives, update coming Feb. 1
Audio: Wiesemeyer’s Perspectives, update coming Feb. 1
| The Week Ahead: Jan. 31 2026 |
| UP FRONT |
TOP STORIES
— Senate clears stopgap funding, setting up brief shutdown as House delays vote
Senate passes a two-week DHS funding extension, but House delay guarantees a short partial shutdown while ICE oversight talks continue.
— Trump says tariffs delivered growth, jobs and global leverage
Trump argues tariffs drove strong growth, low inflation, reshored investment, and new trade deals — rejecting claims they hurt consumers.
— SNAP work rules tighten Feb. 1 under OBBBA law
Expanded work requirements, reduced exemptions, and higher state costs take effect, reshaping eligibility for millions of SNAP recipients.
— Rollins touts farm aid, trade gains, and SNAP declines as signs of rural revival
USDA Secretary says $12B farm aid is a bridge to trade-led growth, lower costs, and fewer Americans relying on food assistance.
— Panama court voids CK Hutchison port deal near Canal
Court ruling blocks Chinese-linked port concession, deepening geopolitical tensions and complicating a global terminal sale.
— USDA shifts sterile fly operations to reinforce New World Screwworm defense
APHIS expands sterile fly buffer toward South Texas to block screwworm spread as a precautionary move.
CONGRESS
— Partial government shutdown begins as House delays vote on Trump/Democrats funding deal
Narrow shutdown starts as House waits to act; most services continue, but DHS and several agencies face funding lapse.
— EPA teases major ag announcement on farm equipment repair
EPA, USDA, and SBA signal imminent action addressing “right to repair” limits tied to emissions rules and farm equipment software.
— Trump to nominate Brett Matsumoto to lead Bureau of Labor Statistics
Trump taps a career BLS economist to stabilize the agency after months of leadership turmoil.
KEY EVENTS
— Week of Feb. 2 packed with Fed speeches, trade, energy, security, and congressional hearings
Dense schedule spans monetary policy, trade geopolitics, energy security, AI at work, DHS oversight, and foreign policy.
ECONOMIC REPORTS
— U.S. data-heavy week puts labor market and growth momentum in focus
ISM surveys, payroll data, and Friday’s jobs report will shape views on inflation risks and Fed policy.
AG REPORTS
— Concentrated ag data slate to shape trade, demand, and farm income outlook
Export sales, processing data, livestock reports, and farm income updates dominate the week.
ENERGY REPORTS
— Energy markets face pivotal inventory data, futures expiries, and global summits
EIA oil, gas, and ethanol data, Brent futures expiry, rig counts, and major global energy conferences drive the week.
| TOP STORIES — Senate clears stopgap funding, setting up brief shutdown as House delays voteTwo-week DHS extension buys time for ICE negotiations, but agencies will close until House acts The Senate voted 71–29 on Friday to pass a stopgap spending package that funds most of the federal government and temporarily separates Department of Homeland Security funding to allow negotiations over new limits on immigration enforcement. Because the House will not take up the bill until early this week, a partial government shutdown is expected to begin just after midnight Saturday. The measure funds DHS at current levels for two weeks while lawmakers and the Trump administration negotiate Democratic demands for tighter oversight of Immigration and Customs Enforcement following the killing of Alex Pretti by federal agents in Minneapolis. The rest of the government would be funded through Sept. 30 if the House ultimately approves the deal and President Donald Trump signs it. Despite broad Senate support, the timing guarantees a short shutdown. House Speaker Mike Johnson (R-La.) acknowledged the lapse, saying the House will act once members return, adding, “We may inevitably be in a short shutdown situation.” Of note: With the government partially shut down, House Democrats told GOP leaders they will not help advance a funding package under suspension of the rules, which would require at least 70 Democratic votes. Speaker Mike Johnson and House Minority Leader Hakeem Jeffries (D-N.Y.) spoke earlier Saturday. Johnson is now expected to route the funding measure through the House Rules Committee and bring it to the floor with Republican votes only — a difficult lift. Any floor action would come no earlier than Monday. Democratic divisions were evident. Some senators argued that even a two-week DHS extension was too generous, with several voting no amid skepticism that the administration would negotiate in good faith. Republicans, meanwhile, pressed to attach their own priorities, including votes on “sanctuary cities” legislation and other amendments, all of which were rejected to speed passage. Looking ahead, the House vote will determine whether the shutdown is quickly resolved and whether negotiations can produce a longer-term DHS agreement before the two-week window expires on Feb. 13. Senate leaders struck a cautiously optimistic tone, but both parties signaled red lines — Democrats on ICE oversight and Republicans on enforcement authorities — setting up a high-stakes, compressed negotiation once funding resumes. — Trump says tariffs delivered growth, jobs and global leveragePresident argues critics were wrong as he credits trade duties for low inflation, booming investment and new trade deals In a commentary published by the Wall Street Journal, President Donald J. Trump contends that his sweeping tariff agenda has defied dire predictions and produced what he calls an “American economic miracle,” rejecting warnings from economists and market analysts that higher duties would trigger inflation, recession, or global retaliation. Trump argues that nine months after imposing broad tariffs, the U.S. economy is posting strong results: repeated stock-market highs, rapid GDP growth, and sharply lower inflation. He contrasts these outcomes with what he describes as stagflation under the Biden administration, saying his second term has delivered low inflation alongside robust growth. He cites third-quarter 2025 GDP growth of 4.4%, a projected fourth-quarter pace above 5%, and recent core inflation running near 1.4%, alongside rising real wages. The president credits tariffs with improving federal finances and trade balances, claiming a 27% reduction in the budget deficit and a 77% drop in the monthly trade deficit. He points to rising exports, higher domestic steel output, a surge in factory construction, and a steep decline in China’s share of U.S. imports as evidence that tariffs have reshaped supply chains in America’s favor. Trump also rejects the argument that tariffs function as a tax on U.S. consumers. Citing academic research, he says foreign producers and intermediaries are bearing most of the cost, often absorbing duties to preserve market access. He argues this dynamic explains why inflation has fallen even as average tariff rates rose sharply. Beyond macroeconomic indicators, Trump frames tariffs as a tool to force investment and reshape geopolitics. He claims more than $18 trillion in investment commitments in less than a year, highlighting pledges by major automakers, semiconductor firms, and pharmaceutical companies to expand U.S. manufacturing. He also links tariffs to a wave of trade agreements with major partners, energy and shipbuilding investments, expanded agricultural exports, and increased foreign military sales. In closing, Trump casts tariffs as central not only to economic revival but also to national security and diplomacy, asserting they have strengthened alliances and even helped defuse international conflicts. He ends with a challenge to critics, arguing that the past year’s data proves tariffs promote growth rather than undermine it — and that skepticism about his trade strategy has been decisively disproven. — SNAP work rules tighten Feb. 1 under OBBBA lawExpanded work requirements, funding cuts, and eligibility rollbacks set to reshape food aid for millions Major changes to the Supplemental Nutrition Assistance Program (SNAP) take effect Sunday, Feb. 1, under President Trump’s “Big Beautiful Bill,” marking one of the most sweeping overhauls of the nation’s largest nutrition assistance program in decades. The law, passed last summer, cuts an estimated $186 billion from SNAP through 2034 and significantly expands work requirements while narrowing eligibility. Key changes taking effect Feb. 1 include: • Expanded work mandate: Able-bodied adults ages 18 to 65 without dependents must now work or participate in a qualifying program at least 80 hours per month to receive benefits, up from a prior upper age limit of 55. • Parents included: Adults with dependent children 14 or older are now subject to work requirements; previously, households with children under 18 were exempt. • Exemptions eliminated: Veterans, people aging out of foster care (24 and under), and unhoused individuals are no longer exempt from work rules. • Waivers sharply limited: States may extend benefits beyond three months only if local unemployment reaches 10% or higher, a much stricter standard than before. • Immigration restrictions: Eligibility is narrowed largely to U.S. citizens and certain lawful permanent residents, eliminating access for others legally present, including some asylum and humanitarian categories. • Higher state costs: States must now cover up to 15% of benefit costs (based on error rates) and see their share of administrative costs rise from 50% to 75%. The Trump administration and USDA say the changes aim to curb fraud and reinforce work incentives, a position repeatedly emphasized by USDA Secretary Brooke Rollins. However, federal watchdogs have found little evidence of widespread abuse; a 2025 Congressional Research Service report described SNAP fraud as rare, with many errors attributed to unintentional mistakes. Advocacy groups warn the tightened rules will push more low-income Americans off food assistance, particularly in areas with limited job opportunities, and argue the changes foreshadow deeper SNAP cuts planned for later in the decade. SNAP currently serves about 42 million Americans, roughly 12% of the population, with many recipients being children, elderly, or disabled. Households generally must earn no more than 130% of the federal poverty line to qualify, and benefits are time-limited unless work requirements are met. — Rollins touts farm aid, trade gains, and SNAP declines as signs of rural revivalUSDA secretary says $12 billion package is a “bridge” to new trade deals, falling costs, and a stronger farm economy USDA Secretary Brooke Rollins said a $12 billion aid package for farmers is designed as a temporary bridge — not a bailout — as the Trump administration pushes new trade deals, lower input costs, and a broader revival of rural America, according to a Jan. 30 interview on FBN’s “Mornings with Maria.” Speaking with host Maria Bartiromo, Rollins said the assistance reflects President Trump’s commitment to farmers and ranchers after what she described as four years of rising costs, stalled trade agreements, and increased bankruptcies under the Biden administration. Rollins framed agriculture as a national security issue and said the goal is to rebuild farm country ahead of what she called a coming “golden age” driven by expanded exports and easing input prices. Rollins also said China has met its year-one commitment to purchase 12 million metric tons of U.S. soybeans and is targeting 25 million metric tons this year. Still, she emphasized the need to diversify export markets, arguing the administration’s tariff strategy and trade negotiations are aimed at reducing reliance on any single buyer. The secretary highlighted a new $70 million John Deere investment in a North Carolina factory — announced by President Trump — calling it a win not just for manufacturing jobs but for farmers, who she said will benefit from lower-cost, domestically produced equipment. She linked the investment to broader reshoring efforts driven by tariffs and industrial policy. Rollins also pointed to new, unreleased data on the Supplemental Nutrition Assistance Program, saying 1.75 million people have moved off SNAP since Trump took office a year ago. She attributed the decline to a stronger economy, higher wages, and tighter oversight, arguing that work — not long-term government assistance — should define the “American dream.” — Panama court voids CK Hutchison port deal near CanalRuling deepens geopolitical tensions as Panama weighs interim operator and China vows to defend its firms Panama’s top court has ruled unconstitutional the contract granting CK Hutchison Holdings Ltd. the right to operate two ports at the Pacific and Atlantic entrances of the Panama Canal, dealing a setback to the Hong Kong conglomerate and adding momentum to President Donald Trump’s push to curb Chinese influence over strategic infrastructure in Latin America. The decision injects fresh uncertainty into CK Hutchison’s plans to sell the ports. Shares of the company fell as much as 5.7% in Hong Kong trading, the biggest drop since April. Panama President José Raúl Mulino said the government is in talks with APM Terminals, a unit of AP Moller-Maersk, to run the facilities on an interim basis. CK Hutchison’s local unit, Panama Ports Company, will continue operating the ports until legal proceedings conclude, after which an open tender would be launched, Mulino said. Panama Ports Company said it has not been formally notified of the ruling and argued it conflicts with the legal framework governing its concessions at Balboa and Cristobal. The firm called for coordination with authorities to avoid operational disruptions while reserving its legal options, including seeking clarification from the court or pursuing international arbitration. The ruling drew a sharp response from China, with a Foreign Ministry spokesman saying Beijing will take all necessary measures to protect the lawful rights and interests of Chinese companies. The ports have long been a geopolitical flashpoint: Trump has criticized perceived Chinese influence over the canal, while Mulino has repeatedly emphasized Panama’s sovereignty. CK Hutchison has operated the facilities since 1997, with the contract extended in 2021. The decision also complicates a broader plan by CK Hutchison to sell 43 global terminals to a consortium led by Terminal Investment Ltd. and BlackRock. While Panama accounts for less than 10% of the group’s overseas port throughput, analysts say the ruling is likely to trim the transaction’s valuation and proceeds, though most of the divestment could still move forward. — USDA shifts sterile fly operations to reinforce New World Screwworm defenseExpanded dispersal zone will extend into South Texas as APHIS strengthens border buffer against northward spread USDA’s Animal and Plant Health Inspection Service is shifting its massive sterile fly dispersal campaign — releasing roughly 100 million sterile flies per week — to reinforce defenses against the northward spread of New World screwworm (NWS). Aircraft and sterile insects will be reallocated to focus more heavily along the U.S./Mexico border, with the new dispersal “polygon” extending about 50 miles into Texas along the border with Tamaulipas, Mexico. USDA officials emphasized the move is precautionary. While the northernmost confirmed NWS case in Mexico remains roughly 200 miles from the U.S. border, infections have continued to spread within Tamaulipas and farther south. At the direction of USDA Secretary Brooke Rollins, APHIS is proactively adjusting its sterile insect buffer to prevent the pest from reaching U.S. territory. How the sterile fly strategy works. Sterile insect technique is a core tool in NWS eradication. Female screwworm flies mate only once; if they mate with a sterile male, their eggs do not hatch. By releasing sterile flies just north of active outbreak zones, USDA aims to create a biological barrier that halts reproduction if the pest moves north. To support surveillance, sterile flies will be marked with a fluorescent dye visible under UV light — and sometimes to the naked eye — allowing inspectors to quickly distinguish sterile insects from wild screwworms if flies are caught in Texas traps. Import controls and recent interception. USDA highlighted the importance of long-standing import protocols after APHIS inspectors identified screwworm larvae in an open wound on a horse imported from Argentina at a Florida quarantine facility. The animal was immediately treated and isolated, and laboratory testing confirmed NWS larvae. Officials stressed the case was unrelated to the Mexico outbreak but demonstrated that import safeguards are working as designed. Surveillance results to date. APHIS continues intensive monitoring along the Southern border, including 121 NWS-specific traps in high-risk areas and thousands of additional insect traps. More than 42,000 flies have been analyzed so far, with no NWS detections in the U.S. Wildlife inspections covering more than 9,300 animals across 39 species and 131 counties have also found no signs of infestation. Guidance for animal owners. Despite the absence of confirmed U.S. cases, USDA is urging livestock owners and pet owners to remain vigilant. Signs of NWS include worsening open wounds, visible maggots or eggs around body openings, and unusual discomfort. Suspected cases should be reported immediately to state animal health officials or USDA veterinarians. While rare in humans, anyone who suspects screwworm exposure is advised to seek prompt medical attention. |
| —CONGRESS |
—Partial government shutdown begins as House delays vote on Trump/Democrats funding deal
Funding lapse expected to be brief, with key agencies already fully financed and House set to act when it returns Monday
The U.S. gov’t entered a partial shutdown early Saturday as the House of Representatives delayed action on a stopgap funding deal negotiated by President Donald Trump and Senate Democrats, following a politically charged standoff over immigration enforcement.
The funding lapse is widely expected to be short-lived. The House is scheduled to return from a week-long recess on Monday, and Trump has publicly endorsed the agreement. Because many federal employees who work weekends — including military personnel and air traffic controllers — are classified as essential, the immediate impact on daily life is likely to be limited.
This marks the second government shutdown since Trump returned to office last year. A previous shutdown in the fall stretched 43 days — the longest on record — halting food aid to millions of households, canceling flights, and leaving federal workers unpaid for weeks. By contrast, the current shutdown is narrower in scope because several major agencies are already funded through the end of the fiscal year on Sept. 30.
Notably, USDA will continue operating, avoiding any disruption to food stamp benefits. National parks, veterans’ services, and the Justice Department are also fully funded and unaffected. However, agencies including Treasury, Defense, Homeland Security, Transportation, Health and Human Services, and Labor are required to begin shutdown procedures under guidance from the White House Office of Management and Budget.
OMB Director Russ Vought said the administration is prepared to move quickly once legislation is enacted, expressing hope that the lapse will be brief and that operations could resume the same day Trump signs the bill if the House acts early Monday.
One open question is whether the Bureau of Labor Statistics will delay Friday’s scheduled release of the monthly jobs report if the shutdown persists, even briefly.
The funding impasse was triggered by the killing of a U.S. citizen, Alex Pretti, during a confrontation with Border Patrol agents in Minneapolis last weekend. In response, Democrats refused to extend funding for the Department of Homeland Security without new constraints on immigration enforcement, including requirements for body cameras, judicial warrants, limits on agents wearing masks, and restrictions on broad immigration sweeps.
Trump and Senate Democratic Leader Chuck Schumer (D-N.Y.) reached a compromise Thursday to fund DHS for two weeks while negotiations continue. Under the deal, the rest of the federal government would receive funding through Sept. 30. The Senate approved the package on Friday, leaving final action to the House.
Trump has recently signaled openness to modifying aspects of his deportation campaign, which polls suggest has become increasingly unpopular and could pose risks for Republicans ahead of the midterm elections.
| A partial government shutdown took effect early Saturday after Congress failed to meet a midnight funding deadline, even as the Senate approved a stopgap package late Friday. The House is not expected to return until Monday, leaving the lapse in place until lawmakers act and President Trump signs the legislation. Unlike last year’s record-setting full shutdown, the current lapse affects only parts of the federal government because several departments already have full-year funding. The White House said the interruption is expected to be brief, and most federal workers are not anticipated to miss paychecks—though outcomes hinge on how quickly the House moves. Which agencies are affected Six of the 12 annual appropriations bills remain unenacted. Agencies tied to those bills are beginning orderly shutdowns of nonessential functions at the direction of the Office of Management and Budget. Departments potentially affected include Defense, Homeland Security, Labor, Health and Human Services, Education, Transportation, Housing and Urban Development, State, Treasury, the federal judiciary, the General Services Administration, and several White House offices. By contrast, departments already funded through Sept. 30—including Justice, Commerce, Agriculture, Interior, and Veterans Affairs—continue operating normally. Federal workers In unfunded agencies, nonessential employees are subject to furloughs, while essential personnel — such as air-traffic controllers, border-security agents, and active-duty military — must keep working. If the shutdown drags on and pay is delayed, Congress has historically authorized back pay once funding is restored. Parks, taxes, and benefits National parks remain open because Interior is funded. The Internal Revenue Service said employees are exempt from furloughs through Feb. 7, aided by remaining Inflation Reduction Act funds. Social Security, Medicare, and Medicaid payments continue, though administrative tasks could slow if the shutdown persists. SNAP and WIC benefits also continue because Agriculture is funded. Military, travel, and immigration Active-duty military personnel continue working; pay could be delayed if the lapse extends, with back pay expected later. Veterans’ health care and benefits are unlikely to be affected. Transportation Security Administration screeners and air-traffic controllers remain on the job, but longer lines and flight delays are possible if staffing strains emerge. Most Immigration and Customs Enforcement employees are deemed essential, and operations are expected to continue largely unchanged due to mandatory funding enacted last year. Postal service and timeline The U.S. Postal Service is unaffected, as it is self-funded. The most recent shutdown began in October 2025 and lasted more than a month — the longest on record. The current Jan. 31 deadline traces back to a fall continuing resolution that bought time to pass some, but not all, full-year spending bills. |
—EPA teases major ag announcement on farm equipment repair
Zeldin, Rollins, and Loeffler signal imminent action on “right to repair” pressures facing farmers
The Environmental Protection Agency is previewing what it calls a major agriculture announcement tied to farmers’ ability to repair their own equipment — a long-running pain point in U.S. agriculture that has drawn bipartisan scrutiny.
According to a notice issued Friday, Lee Zeldin, the EPA administrator, will host a media call Monday morning alongside Kelly Loeffler and Brooke Rollins. The agencies say the announcement will address “a costly and burdensome problem farmers have faced for years at the hands of equipment manufacturers.”
While the EPA did not detail the substance of the forthcoming action, the framing strongly points to the intensifying federal push around farm equipment repair restrictions, an issue that has pitted growers and independent repair shops against major manufacturers that limit access to software, diagnostic tools, and proprietary parts.
What’s likely coming. Based on the agencies involved and the language used, the announcement is unlikely to be purely symbolic. Several plausible avenues are in play:
• Federal enforcement pressure on manufacturers. The EPA may outline how emissions and environmental compliance rules will no longer be used — explicitly or implicitly — to block independent repairs, a tactic manufacturers have long cited to justify locked software and dealer-only servicing.
•Interagency coordination on “right to repair.” With EPA, USDA, and the Small Business Administration appearing together, the move may formalize a cross-agency framework linking environmental compliance, farm economics, and small-business competition.
• Guidance or rule clarification. EPA could issue interpretive guidance making clear that routine repairs or software access do not violate emissions rules, undercutting one of the industry’s most powerful defenses against open repair.
• Support for rural and independent repair shops. SBA’s involvement suggests a potential economic angle — framing repair access as a small-business and rural-investment issue, not just a consumer-rights fight.
• The Zeldin-led rollout hints at easing emissions-based barriers that lock farmers out of diesel exhaust system fixes. EPA is signaling that diesel exhaust fluid (DEF) systems are likely central to the coming major agriculture announcement. Industry observers expect the action to address how emissions rules are used to restrict repairs to DEF and SCR systems — a frequent source of shutdowns and dealer-only service requirements. EPA is widely expected to clarify that lawful DEF repairs, sensor replacements, and post-repair code resets do not constitute emissions tampering, potentially stripping manufacturers of a key justification for software lockouts.
Why this matters now. The cost of modern farm machinery has surged, while downtime during planting and harvest windows has become increasingly expensive. Farmers have complained for years that being forced into dealer-only repairs inflates costs, delays fixes, and concentrates market power in the hands of a few manufacturers.
Politically, the issue fits squarely within the Trump administration’s broader message on lowering costs, cutting red tape, and reining in corporate practices that squeeze producers, particularly in rural America. Bringing EPA into the fight also signals an effort to neutralize claims that environmental rules require tightly controlled repair ecosystems.
What to watch on Monday. The key question is whether the administration unveils binding action — such as enforcement guidance or regulatory changes — or stops short with a policy statement and coordination pledge. Even short of new rules, explicit EPA backing for repair access would materially strengthen farmers’ legal and negotiating position with manufacturers.
—Trump to nominate Brett Matsumoto to lead Bureau of Labor Statistics.
President’s choice of seasoned BLS economist follows withdrawal of earlier, more controversial nominee
President Donald Trump plans to nominate economist Brett Matsumoto to be the next commissioner of the Bureau of Labor Statistics (BLS) — the government agency responsible for key economic data such as the monthly jobs report and consumer price index. The nomination marks an attempt to steady an agency that has been without permanent leadership since Trump abruptly fired the previous commissioner, Erika McEntarfer, last year after a weak jobs report he publicly criticized.
Matsumoto, a long-time BLS research economist and current senior economist on the White House Council of Economic Advisers, is viewed as a more traditional and qualified choice than the president’s earlier nominee, E.J. Antoni, whose candidacy was withdrawn amid bipartisan concern over his lack of government experience and public controversies. Matsumoto’s nomination is expected to draw broader support in the Senate given his extensive technical background and familiarity with the agency’s work.
The nomination follows months of turbulence at the BLS, including challenges with survey response rates and reduced resources, which have raised questions among economists and investors about the agency’s capacity to produce reliable data. Trump, who described Matsumoto on social media as a “brilliant, reputable, and trusted economist” capable of restoring “greatness” to the agency, will now await Senate confirmation of his nominee.
| —KEY EVENTS |
Mon., Feb. 2
• Federal Reserve. Atlanta Fed President Raphael Bostic scheduled to speak.
• Ukraine after the war. American Enterprise Institute for Public Policy Research discussion on “What Future After the War? Opportunities for Ukraine’s Security, Democracy, and Prosperity.”
• U.S. intervention in Venezuela. Johns Hopkins University School of Advanced International Studies Europe virtual discussion on “The U.S. Intervention in Venezuela One Month Later.”
• U.S./Japan trade outlook. Asia Society Policy Institute discussion on “Tariffs, Technology and Trust: Navigating the Next Phase of U.S. Japan Trade Ties.”
Tue., Feb. 3
• Federal Reserve. Richmond Fed President Thomas Barkin scheduled to speak.
• USDA OIG. House Ag Appropriations Subcommittee hearing on “USDA, Office of Inspector General.”
• Iran situation. U.S. Representative Office of the National Council of Resistance of Iran holds a media briefing “to expose Iran regime’s pre-planned orders behind January massacre, IRGC role.”
• China tech. German Marshall Fund of the United States discussion on “Wired for Influence: Inside China’s Global Tech Playbook.”
• U.S./India energy outlook. Center for Strategic and International Studies discussion on “Powering the Future: The U.S.and Indian Energy Landscape in 2030.”
• U.S. environmental technology trade. International Trade Administration virtual meeting of the Environmental Technologies Trade Advisory Committee to discuss issues affecting the competitiveness of the U.S. environmental technologies
• NIH. Senate Health, Education, Labor and Pensions Committee hearing on “Modernizing the National Institutes of Health: Faster Discoveries, More Cures.” NIH Director Jayanta Bhattacharya testifies.
• U.S. policy in Lebanon. House Foreign Affairs Middle East and North Africa Subcommittee hearing on “US Policy Toward Lebanon: Obstacles to Dismantling Hezbollah’s Grip on Power.”
• Coast Guard deployment. House Homeland Security Transportation and Maritime Security Subcommittee hearing on “Frontline Defenders: How the Coast Guard’s Deployable Specialized Forces Combat Narcoterrorists and other Maritime Threats on the High Seas.”
• One month after Maduro. The Atlantic Council holds a virtual discussion on “One Month Without Maduro: On the Ground Perspectives.”
• AI at work. House Education and Workforce Health, Employment, Labor, and Pensions Subcommittee hearing on “Building an AI-Ready America: Adopting AI at Work.”
• LA wildfires. House Natural Resources Federal Lands Subcommittee hearing on “Fix Our Forests: The Need for Urgent Action One Year After the L.A. Wildfires.”
• FERC oversight. House Energy and Commerce Energy Subcommittee hearing on “Oversight of FERC (Federal Energy Regulatory Commission): Advancing Affordable and Reliable Energy for All Americans.” FERC Chairman Laura V. Sweet; FERC Commissioner David Rosner; FERC Commissioner Lindsay S. See; FERC Commissioner Judy W. Chang; and FERC Commissioner David A. LaCerte testify.
• Medicare fraud. House Energy and Commerce Oversight and Investigations Subcommittee hearing on “Common Schemes, Real Harm: Examining Fraud in Medicare and Medicaid.”
• DHS Secretary Noem. The Congressional Hispanic Caucus (CHC) and others a rally “to demand the firing of Homeland Security Secretary Kristi Noem.”
• Energy infrastructure. Bipartisan Policy Center 2026 Permitting Summit on “Building America’s Energy Infrastructure.”
• Critical minerals. Center for Strategic and International Studies discussion on “Securing Critical Mineral Supply: A Government-Industry Dialogue.”
• Russia influence in Syria. Commission on Security and Cooperation in Europe (hearing on “Securing Syria’s Transformation by Diminishing Russia’s Influence.”
• DHS forum. Sen. Richard Blumenthal (D-Conn.) and House Oversight and Government Reform ranking member Robert Garcia (D-Calif.) public forum to receive testimony on the violent tactics and disproportionate use of force by agents of the Homeland Security Department.
Wed., Feb. 4
• Federal Reserve. Fed Governor Lisa Cook speaks on the Monetary Policy and the Economic Outlook at the Economic Club of Miami.
• National Press Club congressional dinner. Washington Press Club Foundation 80th annual Congressional dinner.
• WTO reform. Washington International Trade Association virtual discussion on “WTO (World Trade Organization) Matters: WTO Reform — Part 1.”
• Globalization and trade. Peterson Institute for International Economics virtual discussion on “The securitization of trade: Where is globalization going?”
• Future of trade policy. Hudson Institute discussion on “The Future of Trade Policy.”
• Central Europe and the transatlantic economy. Atlantic Council virtual discussion on “Security Beyond Defense: Central Europe’s Role in the Transatlantic Economy,” as part of “Central Europe Week 2026: Facing a New Strategic Reality.”
• FSOC annual report. House Financial Services Committee hearing on “The Annual Report of the Financial Stability Oversight Council.”
• Europe and American speech, innovation. House Judiciary Committee hearing on “Europe’s Threat to American Speech and Innovation: Part II.”
• Broadband infrastructure limitations. Broadband Breakfast virtual discussion on how to overcome permitting bottlenecks that are stalling critical broadband infrastructure projects and keeping communities offline, part of the INCOMPAS Policy Summit.
• Self-driving cars. Senate Commerce, Science and Transportation Committee hearing on “Hit the Road, Mac: The Future of Self-Driving Cars.”
• Protecting water infrastructure. Senate Environment and Public Works Committee hearing on “Identifying and Addressing Cybersecurity Challenges to Protect America’s Water Infrastructure.”
• NASA reauthorization. House Science, Space and Technology Committee markup of the HR 7273, the “NASA Reauthorization Act of 2026.”
• College costs. House Education and Workforce Higher Education and Workforce Development Subcommittee hearing on “Runaway College Spending Meets the Working Families Tax Cuts.”
• FirstNet. House Energy and Commerce Communications and Technology Subcommittee hearing on “Evaluating FirstNet: Performance, Accountability, and Reauthorization.”
• Gaza situation. Georgetown University’s Center for Contemporary Arab Studies discussion on “Opacity in Gaza: Intimate Relations as Resistance.”
• IMO meeting prep. State Department virtual meeting to prepare for the for International Maritime Organization Pollution Prevention and Response 13 Meeting.
• Communications regulation. Brookings Institution Center for Technology Innovation holds a discussion on “The Future of Communications Regulation.”
• SEC accountability. House Financial Services Capital Markets Subcommittee hearing on “A New Day at the SEC: Restoring Accountability, Due Process, and Public Center for Global Development virtual discussion on “The Global Economy in 2026: Resilience, Risks, and Policies.”
• DHS actions. The Center for American Progress (CAP) holds a virtual discussion on “Reining in DHS and Restoring Accountability.”
• Fighting Somali fraud. Senate Judiciary Federal Courts, Oversight, Agency Action and Federal Rights Subcommittee hearing on “Somali Scammers: Fighting Fraud in Minnesota and Beyond.”
• European energy security. Senate Foreign Relations Europe and Regional Security Cooperation Subcommittee hearing on “A Pathway to European Energy Security.”
Thur., Feb. 5
• Federal Reserve. Atlanta Fed President Raphael Bostic scheduled to speak.
• Transatlantic relations. Atlantic Council virtual discussion on “A New Strategic Reality for the Transatlantic Relationship,” as part of “Central Europe Week 2026: Facing a New Strategic Reality.”
• Global policy issues. CQ Roll Call and FiscalNote virtual discussion on “Get Ahead of the Top Global Policy Issues in 2026.”
• FSOC annual report. Senate Banking, Housing and Urban Affairs Committee hearing on “The Financial Stability Oversight Council’s Annual Report to Congress.”
• Iran-Venezuela and the China/Russia alliance. Atlantic Council virtual discussion on “The Shattered Axis: Venezuela, Iran, and the Future of the China-Russia Alliance,” as part of “Central Europe Week 2026: Facing a New Strategic Reality.”
• GLP-1 therapies. Information Technology and Innovation Foundation discussion on “Beyond the Scale: The Economic Power of GLP-1 Therapies.”
• Assessing nuclear threats. Carnegie Endowment for International Peace discussion on “Bluff or Death? How to Assess Nuclear Threats.”
• Balkans summit. Atlantic Council inaugural Balkans Forward Summit.
• U.S. power grid. Environmental and Energy Study Institute (EESI) holds a briefing on “Powering the Economy: Generation Innovation, Grid Optimization, and Energy Efficiency.”
• Nuclear proliferation. Carnegie Endowment for International Peace virtual discussion on “The Future of Nuclear Proliferation.”
• Tax credits. Brookings Institution discussion on “Pathways to reduce child poverty: Impacts of federal tax credits.”
Fri., Feb. 6
• Federal Reserve. Fed Vice Chair Philip Jefferson to speak on Economic Outlook and Supply-Side Inflation Dynamics in Washington, DC.
• Inflation from Covid. Peterson Institute for International Economics virtual conference on “The worst inflation outbreak in 40 years: Conference on distilling lessons from the Covid era.”
• Supply side factors and inflation. Brookings Institution holds an event on “Supply-side factors and inflation: What have we learned?”
| —ECONOMIC REPORTS |
—U.S. data-heavy week puts labor market and growth momentum in focus. Markets head into the first full week of February with a packed U.S. data slate that should shape expectations for growth, inflation persistence, and the Fed path. The week kicks off Monday with the ISM Manufacturing Index, offering an early read on factory activity, input costs, and export demand. Attention then shifts to the labor market with JOLTS job openings and ADP private payrolls, before the ISM Services Index provides a pulse check on the much larger services sector.
The spotlight lands firmly on Friday’s January employment report from the Bureau of Labor Statistics, with investors watching payroll growth, wage gains, and the unemployment rate for confirmation that labor conditions are cooling — or re-accelerating — amid tariff-driven price pressures. Weekly jobless claims, unit labor costs, and productivity data will round out the picture, helping markets gauge whether inflation risks remain tied more to wages or to policy-driven supply shocks.
Mon., Feb. 2
• PMI Manufacturing | Construction Spending | ISM Manufacturing Index | Earnings: Tyson Foods.
Tue. Feb. 3
• Motor Vehicle Sales | JOLTS | Earnings: Archer-Daniels-Midland, Corteva, Marathon; Suncor
Wed., Feb. 4
• ADP Employment Report | PMI Composite Final | ISM Services Index | Earnings: Equinor; OMV; Phillips 66;| Bunge Global | Holiday: Angola; Bangladesh.
Thur., Feb. 5
• Jobless Claims | Earnings: AGCO; Indian Oil; Shell; Vestas; Neste; ConocoPhillips; Xcel Energy
Fri., Feb. 6
• Employment | Consumer Sentiment | Consumer Credit | Earnings: Carlyle
| —AG REPORTS |
—The first full week of February brings a concentrated slate of agriculture reports that will shape near-term market expectations across trade, processing demand, livestock, and specialty crops. Early in the week, attention turns to export inspections and a U.S. agricultural trade data update, offering a timely gauge of overseas demand and trade flows amid continued volatility in global commodity markets. A series of processing reports — covering the cotton system, fats and oils, grain crushings, and flour milling — will provide fresh insight into domestic usage trends and downstream demand for corn, oilseeds, wheat, and fiber.
Midweek, state-level agriculture stories and the broiler hatchery report will add regional and livestock context, helping producers and analysts assess placement trends and potential shifts in poultry supplies later in the year. Thursday’s releases bring a heavier macro lens, led by export sales, an updated U.S. farm income forecast, dairy products data, and the weekly slaughter report, collectively offering a snapshot of farm profitability, protein production, and global buying interest.
The week wraps up with reports on North American potatoes and peanut prices, rounding out the calendar with updates on key specialty crops as growers and processors look ahead to spring planning decisions. Taken together, the data flow provides a broad read on demand, margins, and supply conditions across the U.S. agriculture sector as markets move deeper into the first quarter.
Mon., Feb. 2
• Export Inspections | US Agricultural Trade Data Update | Cotton System | Fats & Oils | Grain Crushings | Flour Milling
Wed., Feb. 4
• State Stories | Broiler Hatchery
Thur., Feb. 5
• Export Sales US Farm Income Forecast Dairy Products | Slaughter Weekly
Fri., Feb. 6
• North American Potatoes | Peanut Prices | CFTC Commitments of Traders
| —ENERGY REPORTS |
—The week features a heavy mix of market-moving data, industry conferences, and futures activity. Attention centers on Wednesday’s EIA Petroleum Status Report and weekly ethanol production figures, followed by Thursday’s EIA Natural Gas Storage Report, both key for near-term crude, refined product, ethanol, and gas pricing. API’s U.S. inventory report on Tuesday offers an early read on stock trends. On the markets side, Brent March futures expire Friday, alongside ICE Commitments of Traders data for Brent and gasoil and the Baker-Hughes rig count, rounding out the week’s supply and positioning signals. Global energy diplomacy and deal-making will run in parallel, highlighted by LNG2026 in Doha, the Argus Americas Crude Summit in Houston, and the FT International Energy Policy Summit in Brussels, while several regional holidays thin liquidity at points during the week.
Mon., Feb. 2
• LNG2026, Doha, Qatar; runs through Thursday | Argus Americas Crude Summit, Houston; runs through Wednesday | Holidays: Malaysia; Mexico
Tue., Feb. 3
• API US inventory report | Kuwait Oil & Gas Show; runs through Thursday
Wed., Feb. 4
• EIA Petroleum Status Report | Weekly Ethanol Production | FT International Energy Policy Summit, Brussels | Holidays: Angola
Thur., Feb. 5
• EIA Natural Gas Report | ICE gasoil options for February expire | Holiday: Pakistan
Fri., Feb. 6
• BTC Azeri Light loading program (March) | ICE weekly Commitments of Traders report for Brent, gasoil | Baker-Hughes Rig Count | Brent March futures expire | Holiday: New Zealand.
