MNI POLITICAL RISK - Biden Pursues Long-Term India Strategy

Executive Summary:

• Indian Prime Minister Narendra Modi will today become the second foreign leader to be granted by President Biden the honour of a state dinner and joint address to Congress. The Biden administration is gambling that Modi offers Washington a long-term counterweight to China in the Indo-Pacific, despite a patchy human rights record and close ties to Russia.
• Federal Reserve Chair Jerome Powell will deliver part two of his testimony to Congress on monetary policy today at 10:00 ET 15:00 BST.
• The United States Supreme Court may issue a ruling on President Biden’s student loan forgiveness plan today.
• The US State Department has rejected a claim from House Foreign Affairs Committee Chairman Michael McCaul (R-TX) that the State Department is "stopping export controls" on China in order to facilitate meetings with top officials.
• US Treasury Secretary Janet Yellen has outlined three US priorities at the Summit for a New Global Financing Pact.
• Julie Su’s nomination to Secretary of Labor appears to be going nowhere as the Senate prepares to recess.
• The House Republican party experienced another episode of infighting yesterday after Rep. Lauren Boebert (R-CO) initiated a vote to impeach President Biden.
• Poll of the Day: Around 50% of US adults have a favorable view of India.

Please find the full article attached below:

MNI POLITICAL RISK ANALYSIS - US Daily Brief 22-06-23 .pdf