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Executive Summary:

  • The Fiscal Responsibility Act debt limit bill cleared a procedural hurdle yesterday and is expected to be brought to the House floor for a full vote this evening at around 20:30 ET 01:30 BST.
  • The House is expected to pass the legislation without much trouble but many will be eyeing the roll call to determine if conservative Republicans intensify calls to remove McCarthy from office.
  • President Biden will welcome UK Prime Minister Rishi Sunak to the White House next week for talks on improving bilateral economic ties and maintaining support for Ukraine but a free trade deal is off the table.
  • Rep Chris Stewart (R-UT) announced yesterday that he will resign from Congress in the coming weeks, putting further strain of McCarthy razor thin majority.
  • House Representative Warren Davidson (R-OH) has withdrawn himself from contention in the crucial Ohio Republican primary.
  • New Jersey Governor Chris Christie is set to announce his intention to run for president next week.
  • Secretary of State Antony Blinken yesterday urged Turkey to drop its blockade on Sweden’s NATO bid.
  • Poll of the Day: American confidence in the economy remains depressed.

Please find the full article attached below:

MNI POLITICAL RISK ANALYSIS - US Daily Brief 31-05-23 .pdf

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