MNI POLITICAL RISK ANALYSIS - US Daily Brief 04-01-23

Executive Summary:

• At noon yesterday, former House Speaker Nancy Pelosi (D-CA) gaveled the 117^th Congress out of session and ushered in the most chaotic start to a Congress since 1923. The House adjourned without a speaker, with no new lawmakers sworn in, and with no committees in place.
• Presumed Speaker-elect Kevin McCarthy (R-CA) failed to shrink a vote deficit against him in three successive speaker votes and the House will reconvene today with few pathways apparent for a swift resolution.
• Republican quarrelling will be welcomed by Democrats who ring in the new year in a position of comparative strength but a protracted battle for leadership in the House may have serious implications for crucial legislation.
• President Joe Biden and Senate Minority Leader Mitch McConnell (R-KY) will make a rare public show of bipartisanship when they appear together today at an event in Kentucky.
• The White House has confirmed that Japanese Prime Minister Fumio Kishida will travel to Washington to meet President Biden on January 13 as Japan prepares to take a more active role on the world stage in 2023.
• Poll of the Day: Betting markets are seeing McCarthy’s chances to taking the speaker’s gavel shrinking.

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MNI POLITICAL RISK ANALYSIS - US Daily Brief 04-01-23 .pdf