US President Joe Biden is shortly due to deliver remarks at the US Conference of Mayors, likely one of his final public appearances as president. LIVESTREAM

• The Washington Post notes: "The president of the group of mayors, Columbus Mayor Andrew Ginther, told us he expects a warm reception for Biden, who he said was the most “pro-city president” of his lifetime."
• The Post notes that Ginther said: “We’re eager to work with the new administration,” and commended the first Trump administration for “opportunity zones.”
• Biden announced several new measures today, including 15 drugs for Medicare drug price negotiation. Biden said in a statement the action, "means the lower prices my Inflation Reduction Act is delivering will put money back in seniors’ pockets across the country."
• Biden also announced he would commute the sentences of, "nearly 2,500 people convicted of non-violent drug offenses who are serving disproportionately long sentences."

A new surveyfrom the Associated Press/NORC has found that, “most adults are skeptical that Trump can address costs and other economic issues.” The survey is the latest in a string of surveys to suggest that voters are managing expectations that Trump can deliver on an ambitious platform of campaign promises. 

• AP: “Few adults express strong confidence in Trump’s ability to handle key issues as president. About a third are highly confident in his ability to handle immigration, national security, and the economy and jobs. Confidence declines when it comes to lowering costs and handling health care. Another 1 in 5 are moderately confident in his ability to tackle most issues.
• “Roughly half the public has moderate to high confidence in Trump’s ability to handle immigration, national security, and the economy and jobs. A majority are skeptical about his ability to lower costs and manage health care.”

Figure 1: Confidence in Trump’s Ability to Handle Various Issues, % Adults 

Source: AP/NORC

US President-elect Donald Trump has confirmed changes to the official schedule of his January 20 inauguration on his Truth Social account. Due to the extreme cold forecast for the Washington D.C. area on Monday, several key events on the day's agenda are to be moved inside. See: CNN-Trump Inauguration To Be Moved Indoors Due To Freezing Temperatures

• Trump: "I have ordered the Inauguration Address, in addition to prayers and other speeches, to be delivered in the United States Capitol Rotunda... The various Dignitaries and Guests will be brought into the Capitol."
• Trump: "We will open Capital One Arena on Monday for LIVE viewing of this Historic event, and to host the Presidential Parade. I will join the crowd at Capital One, after my Swearing In."
• Trump: "All other events will remain the same, including the Victory Rally at Capital One Arena, on Sunday at 3 P.M. (Doors open at 1 P.M.—Please arrive early!), and all three Inaugural Balls on Monday evening."
• As noted in the previous bullet: "Moving the swearing-in indoors is unlikely to affect the schedule for the inauguration, with the 20th Amendment to the Constitution declaring that the outgoing president's term ends at 1200ET, meaning there will remain a strong effort to get Trump's swearing-in as close to that point as possible, whether indoors or outside." 

• We have published and e-mailed to subscribers the MNI US Macro Weekly offering succinct MNI analysis across the range of macro developments over the past week.
• Please find the full report here: https://media.marketnews.com/US_macro_weekly_250117_c16b607713.pdf