TOMORROW STARTS TONIGHT: BIG BIZ YANKS CONFEDERATE FLAG FROM SHELVES. MJ Lee with the scoop for CNNMoney: “eBay will ban the sale of Confederate flag merchandise, the auction site announced Tuesday, in a decision that follows in the steps of major retailers like Walmart and Sears. The company’s decision mirrors that of Walmart and Sears, which have also removed Confederate flag products from their stores.
“The controversial flag has come under intense scrutiny following a racially motivated mass shooting in Charleston, South Carolina, that left nine African-Americans dead in a historic church. On Monday, South Carolina Gov. Nikki Haley also called on the Confederate flag to be taken down from the state’s capitol grounds.” http://cnn.it/1ByX2s3
{mosads}– The Hill’s Tim Devaney: “Confederate flag sales are skyrocketing on Amazon.com, as the online retail giant threatens to stop selling the flag… Since the beginning of the day, sales of one Confederate flag have jumped by more than 5,400 percent on Amazon, according to the store’s sale page.” http://bit.ly/1TM4KFe
THIS IS OVERNIGHT FINANCE, and I fell asleep during Jurassic World last night. Needless to say, but I was disappointed. Tweet: @kevcirilli; email: kcirilli@digital-release.thehill.com; and subscribe: http://digital-release.thehill.com/signup/48
DAYS UNTIL EX-IM’s CHARTER EXPIRES: 2. And we’ve got an exclusive interview with Ex-Im President Fred Hochberg that will be posted on TheHill.com tomorrow morning. Don’t miss it.
— In case you’re wondering, House votes were canceled on Friday, meaning that there’s now just two days left on the legislative calendar. Votes were canceled so lawmakers can attend a funeral in Charleston, S.C. for the pastor killed in the horrific shooting at a black church. Cristina Marcos on the House canceling Friday votes: http://bit.ly/1TM4kyN
TRADE TALK: WHITE HOUSE PRAISES SENATE, via Jordan Fabian: “The White House on Tuesday praised the Senate for advancing the fast-track trade bill but hedged on whether President Obama will wait to sign it until a separate measure providing workers aid is approved.
— NUTS AND BOLTS, via Fabian: The Senate is expected to hold a final vote Wednesday on fast-track, which would allow Obama to send trade deals to Congress for up-or-down votes. After 61 senators voted “yes” on the procedural motion on Tuesday, it is expected the bill will be approved. http://bit.ly/1SHGNgZ
FED WATCH, via WSJ: “WASHINGTON–Federal Reserve Governor Jerome Powell said he expects the U.S. central bank to begin raising short-term interest rates in September, with a second rate increase coming in December.” http://on.wsj.com/1N6iUfm
— MORE POWELL, via WSJ: “Financial market participants who meet with Fed officials understand the purpose of such meetings is for central bankers to receive information, not provide clues on upcoming policy moves, Federal Reserve governor Jerome Powell said Tuesday.” http://on.wsj.com/1desHDA
AIG WATCH, via DealBook: “A judge’s tone and harsh words in his ruling this week related to the taxpayer bailout of the American International Group seems to have put the government on notice that its tactics in rescuing the insurer during the 2008 financial crisis were improper and illegal.
“For starters, the opinion of Judge Thomas C. Wheeler of United States Court of Federal Claims paints the government’s actions as akin to those of a voracious loan shark, stealing control of the company in the guise of offering assistance.
“The colorful portrayal has made for good press, but the tactics used by the Federal Reserve Bank of New York and the Treasury Department are hardly novel in corporate law, and largely reflect how a distressed company is forced to accept the terms offered by a lone suitor driving a hard bargain.” http://nyti.ms/1N703kg
FAST FACTS, via MarketWatch: “According to a survey of 1,000 adults released by Bankrate.com on Tuesday, nearly one in three (29%) American adults (that’s roughly 70 million) have no emergency savings at all — the highest percentage since Bankrate began doing this survey five years ago. What’s more, only 22% of Americans have at least six months of emergency savings (that’s what advisers recommend) — the lowest level since Bankrate began doing the survey.” http://on.mktw.net/1LsiQZU
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