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MNI POLITICAL RISK ANALYSIS – US Daily

US
  • 09:00 ET 14:00 BST Swedish Prime Minister Magdalena Andersson and Finnish President Sauli Niinistö will arrive at the White House to discuss 'Finland and Sweden’s NATO applications and European security.' Biden and the two Nordic leaders will deliver a joint press conference following the meeting.
  • President Biden will then travel to South Korea this evening amid concerns that North Korea may conduct a nuclear test during the President's first trip to Asia.
  • In Asia, Biden will attempt to mediate the rift between Seoul and Tokyo, sell the Indo-Pacific Economic Framework, and attempt to deepen India's role in the Quad alliance.
  • The Senate is expected to pass the ~USD$40 billion Ukraine aid package today after clearing the objection of Senator Rand Paul (R-KY) via cloture. There will be a handful of GOP ‘noes’ but the bill will be approved with a strong bipartisan vote. Senate Majority Leader Charles Schumer (D-NY) said Paul’s blockade of the bill was ‘repugnant’ and ‘strengthened Putin’s hand.’
  • Treasury Secretary Janet Yellen announced yesterday that the US Treasury is unlikely to extend Russia’s debt-payment license beyond the May 25 expiration date. Yellen said that the move may cause Russia to default on its sovereign debt but won’t significantly change the situation in Russia, as ‘they’re already cut off from global capital markets.’
  • Secretary of State Antony Blinken has denied that US sanctions on Russia have contributed to the escalating food crisis. ‘Some have tried to blame the sanctions imposed on Russia for worsening this crisis. This is false.'
  • Congressional leaders have released a highly optimistic timeline for completing conference on the America Competes/Innovation/Chips act.
  • More: https://marketnews.com/mni-political-risk-analysis-us-daily-brief-19-05-22
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