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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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NBC News reporting that "Members of President Joe Biden’s family have discussed what an exit from his campaign might look like, according to two people familiar with the discussions." The White House has denied any such discussions have taken place.
- The role of Biden's family is seen as crucial. Under the Democratic party's rules given that Biden won a majority of delegates in the primary race there is not a way in which he can be taken off the ticket without his consent.
- This means any decision has to come from the Biden's residence in Rehoboth Beach rather than among the increasing number of Democratic lawmakers calling for his withdrawal.
- Another Democratic lawmaker has called for President Joe Biden to drop out of the presidential race, piling further pressure on the embattled commander-in-chief. Congressman Sean Casten (D-IL) says in a statement that “it is with a heavy heart and much personal reflection that I’m calling on Joe Biden to pass the torch to a new generation.”
- Biden campaign chair Jen O'Malley Dillon, chair of the Biden for President campaign is currently speaking on MSNBC's Morning Joe. She says that "Absolutely the president is in this race.. we believe on this campaign we are built for the close election that we are in, and we see the path forward." Claims "We have multiple pathways to victory," Says Biden will be back on the campaign trail next week.
- The Congressional Hispanic Caucus BOLD PAC has endorsed Biden, providing something of a boost but it it could prove too-little-too-late given the momentum shifting towards the president's withdrawal.
Chart 1. Democratic Lawmakers Calling for Biden Withdrawal by Date
Source: NYT
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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