Third Time’s the Charm?

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What's Happening Today

Good morning! It's Kristin with your daily morning digest.

The U.S. House of Representatives is expected to vote today on a short-term funding bill to keep the government running until March 11. The stopgap measure was introduced yesterday, as federal budget negotiations between Democrats and Republicans haven't moved across the finish line. So far, legislators haven't been able to agree on a budget for the government for our current fiscal year, and instead have been introducing short stopgap measures to keep the government funded. If the bill passes in the House and clears the Senate, the U.S. will avert the looming government shutdown on Feb. 18.

In other news, Fannie Mae agreed to settle a discrimination lawsuit with the National Fair Housing Alliance (NFHA) and 20 other fair housing organizations alleging that the mortgage lender treated homes in Black and Hispanic neighborhoods unfairly. The $53 million settlement will help "rebuild and strengthen communities of color" in 39 cities, according to a statement by the NFHA.

And if you're thinking of buying a house, tune in to our free Instagram Live conversation tonight at 6 p.m. Eastern. The Balance will be chatting with Kara Stevens, financial coach, author, and founder of The Frugal Feminista about getting financially ready to purchase a home.

- Kristin

Editors' Picks

House Democrats Introduce Legislation To Keep Federal Government Funded Until March 11 (The Washington Post)

Fannie Mae Settles Discrimination Suit for $53 Million (The Balance)

JPMorgan Strategists See Sure-Fire Sign It's Time To Buy Stocks (Bloomberg)

Economic Recovery Pushed 2021 US Trade Deficit to Record Level (The Wall Street Journal)

Off the Charts

A new inflation headache may be on the way as commodity prices—and we're not just talking about the higher cost of gasoline—have started off the year with a robust rally.

The Bloomberg Commodity Index, which includes prices for energy, grains, industrial and precious metals, livestock, and soft commodities like coffee and cotton, is up more than 10% from the end of last year and is lingering at the highest level since 2014, as the chart below shows.

Number of the Day

80% - That's how many Black households make less than $100,000 a year—an increasing limitation on their housing options in today's high-priced, low-inventory market.

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