MNI POLITICAL RISK ANALYSIS - US Daily Brief 18-04-23

Executive Summary:

• House Speaker Kevin McCarthy (R-CA) sketched out his proposal to lift the debt ceiling yesterday in remarks at the New York Stock Exchange.
• House Majority Leader Steve Scalise (R-LA) will unveil the final text of the Republican debt ceiling proposal today but the primary question remains: Will McCarthy have the requisite 218 votes from his caucus to push the proposal through the House?
• Secretary of State Antony Blinken told reporters at a gathering of G7 foreign ministers in Japan today that the group is committed to "constructively engaging with Beijing."
• Crude oil in the Strategic Petroleum Reserve has dropped to its lowest level in nearly 40 years but US shale oil production is expected to rise in May to the highest on record.
• Labour unions have spoken out in support for Biden’s Labor Secretary nominee Julie Su as her path to confirmation remains uncertain.
• US officials have been given another headache by Brazilian President Luiz Inacio Lula da Silva’s increasingly close ties with China and Russia.
• Poll of the Day: US voters want Congress to raise the debt ceiling... if the issue is framed as preventing a default.

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MNI POLITICAL RISK ANALYSIS - US Daily Brief 18-04-23 .pdf