MNI POLITICAL RISK ANALYSIS - US Daily Brief 06-01-23

Executive Summary:

• Chaotic scenes in the US House of Representatives continued for a third day yesterday as Republican lawmakers again failed to elect a speaker.
• Republican leader Kevin McCarthy (R-CA) hopes a broad package of concessions can peel off the less rigid of the 20 rebels stonewalling his bid to become speaker and pressure from fellow lawmakers, the press, and constituents will force a capitulation of the hardcore conservatives.
• The problem is that concessions haven’t yet prompted any movement, and with every additional concession he degrades the authority of the speaker's office and risks alienating his allies.
• President Biden told members of his cabinet yesterday that his “economic vision is working” and the US economy is seeing "really bright spots" after a challenging few years.
• Biden yesterday expressed scepticism over a unilateral ceasefire ordered by Russian President Vladimir Putin to observe Orthodox Christmas.
• Secretary of State Antony Blinken and Secretary of Defence Lloyd Austin will host their Japanese counterparts at the State Department for the 2023 US-Japan Security Consultative Meeting on January 11.
• Poll of the Day: Ipsos reports a drop in concern over inflation for the first time since 2020.

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MNI POLITICAL RISK ANALYSIS - US Daily Brief 06-01-23 .pdf