MNI POLITICAL RISK - McCarthy Considers Biden Impeachment

Executive Summary:

• House Republicans will today weigh-up an impeachment enquiry into President Biden over allegations of financial misconduct. House Speaker Kevin McCarthy (R-CA) told reporters yesterday that an “impeachment inquiry is not impeachment,” but the move may be a politically expedient concession to his conservative flank as he attempts to legislate FY2024 spending bills.
• Former Treasury Secretary, Larry Summers, has warned that the “manufacturing-centered economic nationalism” of President Biden’s economic agenda is, “increasingly dangerous.”
• Commerce Secretary Gina Raimondo and Secretary of State Antony Blinken have warned of the dangers of Artificial Intelligence in a Financial Times op-ed.
• The Senate voted yesterday to add a measure to the National Defense Authorization Act which would subject US investments in China to new requirements.
• UPS and unionised workers represented by the International Brotherhood of Teamsters yesterday reached an agreement in principle on a new contract.
• Florida Governor Ron DeSantis (R-FL) has laid off a third of his staff as his tries to rescue a flagging presidential bid.
• Poll of the Day: Six Republican candidates appear to have qualified for the first GOP primary debate on August 23.

Please find the full article attached below:

MNI POLITICAL RISK ANALYSIS - US Daily Brief 26-07-23 .pdf