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Karl Singer is writing Wonkbook while Ezra is on vacation. RCP Obama vs. Romney :  Obama +3.9%; 7-day change: Obama +1.9%. RCP Obama approval :  47.9%; 7-day change: +0.5%. Top story: It’s getting hot in here July was the hottest month ever in the U.S. “It may come as little surprise to the nation’s corn farmers or resort operators, but the official statistics are in: July was the hottest month in the lower 48 states since the government began keeping temperature records in 1895. The average temperature last month was 77.6 degrees — 3.3 degrees above the average 20th-century temperature, the National Oceanic and Atmospheric Administration reported on Wednesday. July thereby dethroned July 1936, which had set the record at 77.4 degrees, the agency said…A hot July also contributed to the warmest 12-month period ever recorded in the United States, the statistics showed. Climatologists at the agency noted that by the end of the month, about 63 percent

Karl Singer is writing Wonkbook this week while Ezra is on vacation. RCP Obama vs. Romney : Obama +2.0%; 7-day change: Obama +0.7%. RCP Obama approval : 47.4%; 7-day change: +0.3%. Top story: The Fed sticks with the status quo The Fed sees a slowing economy but won’t act now. “The Federal Reserve took no new steps to support the economy Wednesday, but it said in a statement that it was ready to act if job growth did not improve. The statement, released after a meeting of the Fed’s policy-making committee, said that the rate of economic growth had slowed in recent months and was likely to remain ‘moderate over coming quarters.’ As a result, the Fed said it expected the unemployment rate to decline ‘only slowly.’ But the central bank deferred any effort to improve the situation at least until the committee’s next scheduled meeting in mid-September…The absence of action appeared to disappoint some equity investors. The Standard & Poor’s 500-stock index f

Karl Singer is writing Wonkbook this week while Ezra is on vacation. RCP Obama vs. Romney :  Obama +1.8%; 7-day change: Obama +0.7%. RCP Obama approval :  47.5%; 7-day change: +0.6%. Top story: The fiscal deadlines are coming Congressional leaders are nearing a deal to avoid a October government shutdown. “House and Senate leaders are nearing a temporary spending deal that would keep the federal government running for the first half of the next fiscal year, which will begin in October, aides in both parties said Monday, an effort to avoid the specter of a messy government shutdown fight on the eve of the November election. The agreement could be announced by House Speaker John A. Boehner (R-Ohio) as soon as Tuesday, aides said…Under the deal, agency spending for the first half of the year would rise at a pace that would not exceed a $1.047 trillion limit that both parties agreed to in last summer’s debt deal, a senior House aide said. That level represents a sig

RCP Obama vs. Romney :  Obama +1.8%; 7-day change: Obama -0.2%. RCP Obama approval :  47.0%; 7-day change: -0.2%. Top story: Summertime and the Fed might be easing The Fed is moving closer to action. “Federal Reserve officials, impatient with the economy’s sluggish growth and high unemployment, are moving closer to taking new steps to spur activity and hiring. Since their June policy meeting, officials have made clear–in interviews, speeches and testimony to Congress–that they find the current state of the economy unacceptable. Many officials appear increasingly inclined to move unless they see evidence soon that activity is picking up on its own. Amid the recent wave of disappointing economic news, conversation inside the Fed has turned more intensely toward the questions of how and when to move. Central bank officials could take new steps at their meeting next week, July 31 and Aug. 1, though they might wait until their September meeting to accumulate m