Agenda: deflation, Nancy Pelosi, border security

House Speaker Nancy Pelosi is calling members back from their summer recess this week to vote on a $26 billion spending bill that will help states and school districts avoid massive layoffs. Will it pass and what will a victory mean for Democrats heading into the November elections? That is one of the questions Charlie Herman, economics editor for The Takeaway and WNYC Radio and Fernando Pizarro, Washington correspondent for Univision, tackle as we look ahead to this week’s news.

They take a closer look at the Fed’s upcoming decision on interest rates, and an upcoming House vote on a $600 million border security bill. All that and could we be headed for a period of deflation in this country?