January 07, 2025 13:17 GMT
MNI POLITICAL RISK - Trump Huddles w/GOP Lawmakers On Strategy
Daily round-up of news from the US.
Executive summary:
- The Senate will begin confirmation hearings for President-elect Donald Trump’s cabinet nominations next week. Data from Polymarket shows bettors are confident that Trump’s four most embattled nominees are on track for confirmation.
- Financial markets received a preview of the challenges of a Trump presidency yesterday, with markets reactive to competing narratives of Trump's tariff and legislative plans. The influence of Trump’s ad hoc social media statements will likely spell a return of the market turbulence that characterised Trump's first term, with information asymmetries between the White House and key players in financial markets driving uncertainty.
- Trump will meet Republican lawmakers from the Senate and House this week to determine whether the GOP will pursue a one- or two-bill reconciliation strategy to legislate Trump's agenda.
- The Fed’s top regulatory officer, Michael Barr, confirmed yesterday he will step down by February 28, nixing a potential crisis regarding executive authority over the Fed.
- A broad overhaul of energy permitting laws is unlikely to be part of Republican reconciliation plans.
- Labour unions representing US dockworkers will meet today with the US Maritime Alliance (USMX) to negotiate a labour contract to avert a strike on January 17.
- Secretary of State Antony Blinken met with Japanese Prime Minister Ishiba Shigeru today in Tokyo amid tensions over President Biden’s decision to block Nippon Steel's acquisition of US Steel.
- Poll of the Day: Donald Trump is set to return to the White House enjoying the highest approval rating of his political career.
Please find the full article attached below: US Daily Brief
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