This past week saw the framework established for the new Congress which gets sworn in on January 3. Speaker Nancy Pelosi ended her 20 years as leader of the House Democrats serving as the first, and only, woman Speaker. Much has been written about the role she played in managing what at times was a narrow majority as she led the effort to get through Democratic initiatives ranging from Obama Healthcare to this year’s infrastructure and CHIPS packages.

With Pelosi’s departure both parties in the House will be led by a new generation of leaders. Kevin McCarthy the Republican Leader and likely next Speaker is 57, and Nancy Pelosi will be succeeded by New York House Member Hakeem Jeffries who is 52. As President Kennedy said in his inaugural speech, “the torch has been passed to a new generation of Americans.”

In the Senate, Democratic Leader Chuck Schumer has no opposition and Republican Leader Mitch McConnell easily beat back a challenge from Florida Senator Rick Scott.

The other big political news was the early announcement by former President Trump of his bid for the Republican nomination in 2024. It was the earliest official entry into the Presidential race in recent political history. Florida Governor Ron Desantis is viewed as his most dangerous challenger whi...

Unlock this article with a FREE 30-Day Trial!

An FSI Pro, or FSI Macro subscription is required in order to access this content.

*Free trial available only on a monthly plan

Disclosures (show)

Get invaluable analysis of the market and stocks. Cancel at any time. Start Free Trial

Articles Read 2/2

🎁 Unlock 1 extra article by joining our Community!

You’ve reached your limit of 2 free monthly articles. Please enter your email to unlock 1 more articles.

Already have an account? Sign In

Don't Miss Out
First Month Free