The weekend news is likely to be dominated by the President’s trip to India to attend a G20 summit. Both Presidents Xi and Putin have decided not to attend, which will put an even brighter spotlight on the US President.

The Senate returned this past week but the House remained on the August/Labor Day break. Much attention was focused on Senator McConnell, who largely avoided discussions of his health. However, he was vocal in his support for Ukraine and the potential tug of war between the House and Senate to approve the President’s request for $40B in emergency supplemental funding, likely as part of a Continuing Resolution (CR) to keep the government open after the fiscal year deadline.

The emergency supplemental funding would refill the coffers for FEMA’s emergency relief, money for increased assistance at the Southern border, and the war in Ukraine. The Senate has made clear that the President’s request has strong bipartisan support, but in the House there is growing Republican dissatisfaction with the war in Ukraine. Speaker McCarthy has reportedly floated the idea among House Republicans that they could pass a CR to keep the government open until mid-November and add money for the border and FEMA but not Ukraine. This is unlikely to be acceptable to either th...

Unlock this article with a FREE 30-Day Trial!

No Credit Card Required! Limited time only!

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 3/3

🎁 Unlock 2 extra articles by joining our Community!

You’ve reached your limit of 3 free monthly articles. Please enter your email to unlock 2 more articles.

Already have an account? Sign In

Don't Miss Out
First Month Free