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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Debt Limit Vote Today May Determine McCarthy's Future
The House of Representatives will hold a full vote on the debt limit legislation, the Fiscal Responsibility Act, at around 20:30 ET 01:30 BST today.
- Full analysis in today's edition of our US Daily Brief.
- The bill is expected to pass without difficulty. Two key centrist House groups, the New Democrat Coalition and the Problems Solvers will support behind the bill, offsetting opposition from conservative Republicans and progressive Democrats.
- The Republican House Freedom Caucus yesterday panned the bill, and made the first suggestion that they may invoke the motion to vacate - a procedural maneuver to force a vote on removing McCarthy from office.
- Conservative Rep Matt Gaetz (R-FL): "If a majority of Republicans are against a piece of legislation, and you use Democrats to pass it... it would likely trigger an immediate motion to vacate."
- Although the prospect of McCarthy being removed from office remains unlikely, the roll call this evening is crucial. If he fails to whip the support of a strong majority of his party, expect calls for the motion to vacate to intensify and McCarthy's ability to effectively legislate in the House to diminish.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.