Finance Furor

In the 118th Congress, expect more oversight of banking/markets regulators, passage of digital assets legislation and legislation that supports economic growth and lower inflation. 

Republicans are no longer as friendly to corporate America. Expect attention towards "woke" capitalists and ESG agenda.

Republicans will likely:

• Establish a new subcommittee of the House Financial Services Committee dedicated to cryptocurrency and digital assets.

• CFPB, SEC and other regulators will be a focal point for oversight from both committees, with agency heads Rohit Chopra, Gary Gensler and others in GOP hot seats.

• Work in a bipartisan manner to pass crypto legislation.

• Probe financial services firms’ ties and investments in China.

• Push back against "woke" and ESG policies within regulatory agencies and Wall Street.

Should auld acquaintance be forgot? Not in the healthcare industry, where the new year will be kicking off January 9th – 12th with the highly anticipated in-person return of the annual JP Morgan Healthcare Conference.  

Billed as the largest and most informative healthcare investment symposium in the industry, the event is expected to draw hundreds of companies and thousands of investors to the Union Square area of San Francisco.

Some key things to know: 

• Back in person: This year’s event will mark the first year back in-person since the 2020 conference. It is expected to be a full conference with presentations from many of the top biopharma, device, diagnostic, health tech, services and other companies.

• Learn what is in store for 2023: The conference is typically seen as the kickoff to the new year for the healthcare industry, where investors, media and other industry participants digest news related to new trial data, regulatory matters and policy, major transactions and company launches to help them formulate an outlook for the year ahead.

• It’s more than just JP Morgan’s conference: The second week in January has grown into a parade of other "unofficial" industry events held throughout the city, including multi-day panels being held by media outlets, life sciences companies and industry associations.

• Opportunities to give back: There has been an increasing focus on giving back to industry causes and the city of San Francisco, with multiple volunteer and charitable activities driving increased participation among conference participants.

The FGS Global team will be in attendance supporting our clients as they execute transformative announcements, present to investors and partners and navigate the crowded conference halls and busy streets around the event. Please reach out if we can be helpful.

Before we sign off for 2022, some seasonal statistics from our Food & Ag friends:

Christmas trees and poinsettias are iconic symbols of the holiday season. 

While the vast majority are grown in the United States for domestic use, a small share of both plants are imported from Canada. Trade is highly seasonal, with 99% of Christmas trees and 95% of poinsettias shipping between November and December. 

From 2000–2015, live Christmas tree imports averaged around 2 million trees per year at an inflation-adjusted annual value of $36.1 million. 

However, by 2022, live tree imports reached nearly 2.8 million trees at a value of $68 million. 

Import values of live trees had previously spiked in 2020 because of COVID-19 supply chain issues, and prices have remained relatively high since.

Poinsettias first grew in popularity as a Christmas flower in the United States after they were brought from Mexico in the 1820s. In the early 2000s, the United States imported as many as 5.9 million live plants per year before that number dipped to 1.2 million in 2011, in parallel to the narrowing of the U.S. to Canadian dollar exchange rate. 

In recent years, the number of plants has gradually increased with a more significant increase in value. In 2022, live poinsettia imports totaled 2.2 million plants worth $11.5 million.