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Executive Summary:

  • President Biden will host House Speaker Kevin McCarthy (R-CA) and the three other leaders of Congress for a crunch debt limit summit in the Oval Office today.
  • The Senate Appropriations Committee will hear testimony from Defense Secretary Lloyd Austin, Secretary of State Antony Blinken, and Commerce Secretary Gina Raimondo today on the “Path Ahead for the U.S.-China Relationship,” a potentially important hearing for the future of US-China relations and a rare opportunity to see three high-profile cabinet members testify to the same panel.
  • The Senate Banking Committee and House Financial Services Committee will hold key hearings on the collapse of of SVB and the future of financial regulation today.
  • President Biden's trip to Papua New Guinea may have important long-term security implications for the Indo-Pacific region.
  • Senior Biden administration officials will hold a classified briefing for all Senators today on Iran’s nuclear programme and military cooperation with Russia.
  • Ukraine Caucus Co-Chair Rep. Mike Quigley (D-IL) says he is concerned that the debt limit standoff could derail future security assistance to Ukraine.
  • Poll of the Day: US voters believe that Rep. George Santos (R-NY) should resign.

Please find the full article attached below:

MNI POLITICAL RISK ANALYSIS - US Daily Brief 16-05-23 .pdf

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