Free Trial
USDCAD TECHS

Key Support Remains Exposed

AUDUSD TECHS

Pullback Extends, But Still Looks Corrective in Nature

US TSYS

FED Remains in Play Post-NFP/ISM Data

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Reps Central To Debt Limit Crisis - Most Conservative And Least Experienced

US

The Pew Research Center has released a report showing that members of the House Freedom Caucus (HFC) are amongst the most conservative lawmakers in the House of Representatives.

  • Members of the HFC are at the center of a showdown with Democrats over raising the federal government debt ceiling with 20 or so HFC members granted considerable power by House Speaker Kevin McCarthy (R-CA) to unlock his bid to become speaker.
  • Much of the political uncertainty around the debt ceiling standoff concerns how far conservative Republicans will be willing to push negotiations in order to extract concessions on spending.
  • The report shows that not only are HFC Reps the most conservative, they are also amongst the least experienced in Congress with 71% of members serving six or fewer years in Congress.
  • This ideological positioning and lack of congressional experience may increase the risk of miscalculation in negotiations.

Chart 1: Ideological Scores of House Representatives, Based on Roll Call Votes

Keep reading...Show less
171 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

The Pew Research Center has released a report showing that members of the House Freedom Caucus (HFC) are amongst the most conservative lawmakers in the House of Representatives.

  • Members of the HFC are at the center of a showdown with Democrats over raising the federal government debt ceiling with 20 or so HFC members granted considerable power by House Speaker Kevin McCarthy (R-CA) to unlock his bid to become speaker.
  • Much of the political uncertainty around the debt ceiling standoff concerns how far conservative Republicans will be willing to push negotiations in order to extract concessions on spending.
  • The report shows that not only are HFC Reps the most conservative, they are also amongst the least experienced in Congress with 71% of members serving six or fewer years in Congress.
  • This ideological positioning and lack of congressional experience may increase the risk of miscalculation in negotiations.

Chart 1: Ideological Scores of House Representatives, Based on Roll Call Votes

Keep reading...Show less