Next week Congress returns, with political agendas taking center stage.  House Speaker Johnson has said that the House will formally send the Senate its bill of impeachment against Homeland Security Secretary Alejandro Mayorkas.  It has been over 100 years since a cabinet member has been impeached by the House, and under Senate rules, the House impeachment is a privileged motion that they must take up. While Leader Schumer has not shown his hand, the general expectation is that it will be quickly dismissed as there is no Democratic support for the move, and even some Republicans will be glad to see it tabled or just disappear. 

In addition to the formal action to send the impeachment to the Senate, the Speaker will also need to deal with the foreign aid package approved by the Senate several weeks ago.  The package contains money for Ukraine, Israel, and Taiwan, though most of the money is spent in the US for the manufacture of arms. 

The aid package faces resistance from some Republicans who oppose the Ukraine portion of the package, and now it faces opposition from some Democrats who do not back aid to Israel to support the war in Gaza.  It will be a tough week ahead for the Speaker.

Yellen in China

Treasury Secretary Janet Yellen is in China over the weekend...

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