© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI BRIEF: ECB Needs More Than Two Rate Hikes - IMF Official

MNI China Daily Summary: Friday, May 26

(RPT)MNI: US Fiscal Trajectory Deviating From AAA peers-Fitch

EZ/UK T-Bill Calendar: Belgium, Germany & France to issue Tues

MNI: US APR PERSONAL INCOME +0.4%; NOM PCE +0.8%

MNI:US APR DURABLE NEW ORDERS +1.1%; EX-TRANSPORTATION -0.2%

(RPT)MNI INTERVIEW: Fed Needs Better QE Guardrails-Fed Adviser

MNI: Canada Resilient To US Debt Ceiling Clash- Freeland

MNI BRIEF: BOC Defends 2% Target, Senate Asks About Raising It

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
Trending Top 5
Market News Topics

Democrat Leader Jeffries To File Debt Ceiling Discharge Petition Today

US
HomepagePolitical Market NewsPolitical RiskPolitical Risk BulletBulletMarketsFixed Income NewsForeign Exchange News

House Minority Leader Hakeem Jeffries (D-NY) has indicated in a letter to colleagues that he will file a discharge petition today which would bypass House Speaker Kevin McCarthy (R-CA) and raise the debt limit unliterally. As the petition will require the signatures of at least five dissenting Republican reps it is considered highly unlikely to succeed, especially considering the strong position McCarthy finds himself in after yesterday's White House meeting with President Biden.

  • Bullet edited to correct typo (D-NY) 14:14 BST
  • Jeffries writes: "In the next few weeks, at the reckless urging of former President Trump, we confront the possibility that right-wing extremists will intentionally plunge our country into a default crisis."
  • Jeffries says that, following the White House debt limit meeting yesterday, he "is hopeful that a real pathway exists" to avoid a default but says: "...given the impending June 1 deadline.... it is important that all legislative options be pursued in the event that no agreement is reached."
  • Jeffries tells Democrats, "it is imperative that members make every effort to sign the discharge petition today, which will be available at the Clerk’s desk on the House Floor beginning at 10 a.m."
190 words

To read the full story

Why Subscribe to

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.

House Minority Leader Hakeem Jeffries (D-NY) has indicated in a letter to colleagues that he will file a discharge petition today which would bypass House Speaker Kevin McCarthy (R-CA) and raise the debt limit unliterally. As the petition will require the signatures of at least five dissenting Republican reps it is considered highly unlikely to succeed, especially considering the strong position McCarthy finds himself in after yesterday's White House meeting with President Biden.

  • Bullet edited to correct typo (D-NY) 14:14 BST
  • Jeffries writes: "In the next few weeks, at the reckless urging of former President Trump, we confront the possibility that right-wing extremists will intentionally plunge our country into a default crisis."
  • Jeffries says that, following the White House debt limit meeting yesterday, he "is hopeful that a real pathway exists" to avoid a default but says: "...given the impending June 1 deadline.... it is important that all legislative options be pursued in the event that no agreement is reached."
  • Jeffries tells Democrats, "it is imperative that members make every effort to sign the discharge petition today, which will be available at the Clerk’s desk on the House Floor beginning at 10 a.m."