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☆ TikTok aside, Congress has its eye on the U.S. money going into China
▼ + stars: | 2024-03-21 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

The House Select Committee on the CCP, established in January last year, led the legislative act to essentially ban TikTok in the U.S. if its Chinese parent ByteDance doesn't sell the popular social media app. watch nowThe House select committee in February also published a report alleging U.S. venture capital firms invested billions "into PRC companies fueling the CCP's military, surveillance state and Uyghur genocide." Similar research detailing the links between U.S. capital, venture firms in China and Chinese tech startups has started making its rounds in major media outlets since late 2023. The Senate in July overwhelmingly passed a bill that would have required U.S. investors in advanced Chinese technology to notify the Treasury Department. The Biden administration in August issued an executive order aimed at restricting U.S. investments into semiconductor, quantum computing and artificial intelligence companies citing national security concerns.

Persons: Ken Cedeno, that's, Mike Gallagher, Gallagher, Andrew King, King, Biden, Michael McCaul, Gregory W, Meeks Organizations: U.S, Capitol, Reuters, The U.S, Congress, Chinese Communist Party, CNBC, House Armed, Technologies, Innovation, Intelligence, CCP, Future, Ventures, Treasury Department, Treasury, Foreign, China's Ministry of Commerce, Financial Regulatory Administration Locations: Washington , U.S, Reuters BEIJING, The, China, United States, U.S, Beijing, San Francisco

☆ Republican Lawmakers Spar With University Presidents at Campus Antisemitism Hearing
▼ + stars: | 2023-12-05 | by ( Joseph De Avila | Melissa Korn | ) www.wsj.com time to read: 1 min

Harvard University President Claudine Gay speaking at the congressional hearing on Tuesday. Photo: ken cedeno/ReutersRepublican lawmakers chastised the presidents of three elite U.S. universities during a congressional hearing about efforts to curb rising antisemitism on their campuses. Claudine Gay of Harvard University, Liz Magill of the University of Pennsylvania and Sally Kornbluth of the Massachusetts Institute of Technology acknowledged Tuesday to lawmakers on the House Committee on Education and the Workforce that antisemitism was a growing problem at their schools.

Persons: Claudine Gay, Liz Magill, Sally Kornbluth Organizations: Harvard, Reuters, Harvard University, University of Pennsylvania, Massachusetts Institute of Technology, Education

Former U.S. Secretary of State Hillary Rodham Clinton delivers remarks during the unveiling of her portrait, at the State Department in Washington, U.S., September 26, 2023. REUTERS/Ken Cedeno/File Photo Acquire Licensing RightsDUBAI, Dec 3 (Reuters) - Former U.S. Secretary of State Hillary Clinton called on Sunday for reform of the insurance sector, where companies are increasingly withdrawing assistance against climate shocks. Lower-income countries and workers in nations most affected by climate change are struggling to access insurance to help protect them from economic shocks. "We need to rethink the insurance industry," Clinton said during a panel on women and climate resiliency. "People in the United States, Europe, they're going to wake up and say, 'What do you mean, I can't get insurance?'"

Persons: Hillary Rodham Clinton, Ken Cedeno, Hillary Clinton, Clinton, it's, Valerie Volcovici, Elizabeth Piper, Katy Daigle, Jan Harvey Organizations: U.S, State Department, REUTERS, Rights, Former U.S, Insurance, Foundation Resilience, Thomson Locations: Washington , U.S, Former, India, U.S, United States, Europe

☆ Biden to invoke Cold War-era law to boost medical supplies
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +1 min

U.S. President Joe Biden speaks at a dinner hosted by the Human Rights Campaign at the Washington Convention Center in Washington, U.S., October 14, 2023. REUTERS/Ken Cedeno/File Photo Acquire Licensing RightsWASHINGTON, Nov 27 (Reuters) - President Joe Biden will invoke a Cold War-era measure to boost investment in U.S. manufacturing of medicines and medical supplies that he has deemed important for national defense, the White House said. Biden will authorize the Department of Health and Human Services to use powers under the Cold War-era Defense Production Act to enable investments in "essential medicines," the White House said in a statement. The areas of investment also include "medical countermeasures," which include supplies that diagnose, prevent, or treat diseases related to chemical, biological, radiological, or nuclear attacks. He is holding his first meeting of a new White House Council on Supply Chain Resilience on Monday.

Persons: Joe Biden, Ken Cedeno, Biden, Lael Brainard, Jason Lange, Jeff Mason, Sonali Paul Organizations: Human, Washington Convention Center, REUTERS, Rights, of Health, Human Services, White, Democrat, White House Council, Economic Council, Thomson Locations: Washington , U.S, U.S

[1/2] U.S. President Joe Biden speaks at a dinner hosted by the Human Rights Campaign at the Washington Convention Center in Washington, U.S., October 14, 2023. That good-news approach is not working, some officials inside and outside the Biden campaign say. The latest Reuters/Ispsos poll showed Biden and Trump locked in a tight race, with Trump leading Biden 51% to 49% when respondents were asked to pick between the two. "I don't fault the (Biden) campaign at all, for not wanting to get into the mud, the blood and the beer. Because you want to seem presidential," Morgan said, referring to the time it has taken the Biden campaign to step up its attacks on Trump.

Persons: Joe Biden, Ken Cedeno, Donald Trump, Biden, Trump, Ron DeSantis, Donna Brazile, Julie Chavez Rodriguez, Joe Biden's, it's, Jason Miller, it's Joe Biden, John Morgan, Morgan, Nandita Bose, Trevor Hunnicutt, Heather Timmons, Kieran Murray, Deepa Babington Organizations: Human, Washington Convention Center, REUTERS, Rights, Republican, Trump, New York Times, Biden, White, Muslim, Democratic, Reuters, Thomson Locations: Washington , U.S, Nazi Germany, America, Siena, U.S, Gaza, Florida

☆ A record number of $50 bills were printed last year. It’s not why you think
▼ + stars: | 2023-11-18 | by ( Sergio Padilla | ) edition.cnn.com time to read: +5 min

New York CNN —Unless you’re an avid currency collector, an employee of the Bureau of Engraving and Printing, or work at the Federal Reserve, you likely didn’t know that last year a record number of $50 bills were printed. Last year, the government printed 756,096,000 of those bills — the highest total of the denomination printed in one year in more than 40 years. In 2019, only 3.5% of all US bills printed were $50s. To understand why so many $50 bills were printed, it’s important to know how the system of printing money works. But, more likely, and more realistically, people tend to avoid using $50 bills due to them being confused with $5 or $20 bills and many stores not accepting bills larger than $20.

Persons: Ken Cedeno, Ulysses S, Grant, wasn’t, Patrick McHenry, Ronald Reagan, Bugsy Siegel Organizations: New, New York CNN, Engraving, Federal Reserve, Yum Brands, Inc, Eccles Federal, Washington DC, Fed, San Francisco Fed, US, North Carolina Republican, Centers for Disease Control Locations: New York, Washington, North Carolina, Vegas, United States

☆ Biden’s economic scorecard touts fragile advantage
▼ + stars: | 2023-11-09 | by ( Ben Winck | ) www.reuters.com time to read: +11 min

And if the political strategist James Carville was right that “it’s the economy, stupid,” the next several months could make or break Joe Biden’s economic record. As things stand, the current ruler of the free world touts a fragile advantage. Households’ disposable income after adjusting for inflation hit a record $20 trillion in the month that Biden’s measure was approved, according to the Bureau of Economic Analysis. STUDENT LOANSForgiving swaths of student debt was another of Biden’s campaign promises, but his efforts have so far failed. And with higher interest rates making debt service more expensive, Biden’s spending could come back to bite him on election day.

Persons: Joe Biden, Ken Cedeno, James Carville, Joe Biden’s, “, aren’t, Breakingviews, it’s, Biden, Donald Trump, Mitch McConnell, ”, Realtor.com, Congressional Republicans haven’t, haven’t, WALL, Lauren Silva Laughlin, Sharon Lam, Aditya Sriwatsav Organizations: Edmond's Catholic, REUTERS, Rights, Reuters, House, Republican, AMERICAN, ACT, Brookings Institution, Analysis, Walmart, Nordstrom, Deere, Caterpillar, Republicans, Commerce Department, Micron, Bank of America, Gallup, Federal Reserve, United Auto Workers, RSM, Congressional Republicans, Biden, Reuters Graphics Reuters, Conservative, Thomson Locations: St, Rehoboth Beach , Delaware, U.S, New York, Arizona, West Virginia

REUTERS/Ken Cedeno/Pool/File Photo Acquire Licensing RightsDUBLIN Nov 8 (Reuters) - A rise in geopolitical tensions across the world could aggravate already subdued growth in Europe and China and the spillover may alter the path of the U.S. economy, Federal Reserve Governor Lisa Cook said on Wednesday. "We are not only watching subdued growth, we're watching the geopolitical tensions that we're all talking about, and that could change the outlook both in the United States and the global economy." Cook added that geopolitical tensions may in particular destabilize commodity markets and access to credit in the current higher interest rate environment. "Any shock could make the situation worse that we're already (in)... and could be destabilizing to commodity markets, could be destabilizing to the system of credit," Cook said. "More broadly, escalation of geopolitical tensions could lead to lower economic activity and increased fragmentation of global trade flows and financial intermediation, raising financing and production costs and contributing to more sustained supply chain challenges and inflationary pressures," Cook said.

Persons: Lisa DeNell Cook, Ken Cedeno, Lisa Cook, Cook, We're, Padraic Halpin, Conor Humphries, Ann Saphir, Lindsay Dunsmuir, Leslie Adler, Mark Potter Organizations: Governors, Federal Reserve System, Banking, Housing, Urban, Capitol, Washington , D.C, REUTERS, DUBLIN, Federal, Central Bank of Ireland, Thomson Locations: Michigan, Washington ,, Europe, China, U.S, Dublin, United States, Ukraine, Russia, East, San Francisco

"But I would say that an expectation of higher near-term policy rates does not appear to be causing the increase in longer-term rates." The interest rate on the 10-year Treasury bond has risen roughly a percentage point since the summer, breaching the 5% level late last month before dropping in recent days to its current level around 4.64%. The Fed has not raised its policy rate since July. Cook did not comment on her specific view of the Fed's policy rate, focusing instead on an overview of financial stability issues. In her overview of financial stability, Cook said she felt that the banking system had weathered the stresses of last spring, and "remains sound and resilient overall."

Persons: Lisa DeNell Cook, Ken Cedeno, Lisa Cook, Cook, Jerome Powell, Howard Schneider, Paul Simao Organizations: Governors, Federal Reserve System, Banking, Housing, Urban, Capitol, Washington , D.C, REUTERS, Rights, Federal, Duke University, Thomson Locations: Michigan, Washington ,, U.S

☆ Poll makes better reading for Biden than China's Xi before expected summit
▼ + stars: | 2023-11-06 | by ( David Brunnstrom | ) www.reuters.com time to read: +3 min

"People in 23 countries tend to see U.S. President Joe Biden more positively than Chinese President Xi Jinping," it said in a report released on Monday. "A median of 54% have confidence in Biden to do the right thing regarding world affairs, compared with 19% who say the same of Xi." The countries surveyed were the United States, Argentina, Australia, Brazil, Britain, Canada, France, Germany, Greece, Hungary, India, Indonesia, Israel, Italy, Japan, Kenya, Mexico, the Netherlands, Nigeria, Poland, South Africa, South Korea, Spain and Sweden. "This year, overall views of the United States are much more positive than views of China in most places surveyed," it said. "On balance, views of the U.S. are much more positive than views of China," Pew said.

Persons: Joe Biden, Ken Cedeno, Xi Jinping, Biden, Pew, Xi, David Brunnstrom, Jonathan Oatis Organizations: Edmond's Catholic, REUTERS, Rights, Pew Research Center, U.S, APEC, Biden, Thomson Locations: St, Rehoboth Beach , Delaware, U.S, United States, China, Argentina, Australia, Brazil, Britain, Canada, France, Germany, Greece, Hungary, India, Indonesia, Israel, Italy, Japan, Kenya, Mexico, Netherlands, Nigeria, Poland, South Africa, South Korea, Spain, Sweden, North America, Europe, Asia, Africa, Latin America, San Francisco

☆ Fed's Cook says hopes current policy setting is adequate to settle inflation
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +1 min

Dr. Lisa DeNell Cook, of Michigan, nominated to be a Member of the Board of Governors of the Federal Reserve System, listens during a Senate Banking, Housing and Urban Affairs Committee confirmation hearing on Capitol Hill in Washington, D.C., U.S., February 3, 2022. REUTERS/Ken Cedeno/Pool/File photo Acquire Licensing RightsWASHINGTON, Nov 6 (Reuters) - Federal Reserve Gov. Lisa Cook said she hopes the central bank's current target interest rate is adequate to return inflation to the Fed's 2% target. "But we will continue to be vigilant," to ensure the inflation target is reached. Reporting by Howard SchneiderOur Standards: The Thomson Reuters Trust Principles.

Persons: Lisa DeNell Cook, Ken Cedeno, Lisa Cook, Cook, Howard Schneider Organizations: Governors, Federal Reserve, Banking, Housing, Urban, Capitol, Washington , D.C, REUTERS, Rights, Duke University, Thomson Locations: Michigan, Washington ,

☆ US to evict Gabon, Niger, Uganda and Central African Republic from trade program
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Ken Cedeno Acquire Licensing RightsWASHINGTON, Oct 30 (Reuters) - U.S. President Joe Biden said on Monday that he intends to end the participation of Gabon, Niger, Uganda and the Central African Republic in the African Growth and Opportunity Act (AGOA) trade program. Biden said he was taking the step because of "gross violations" of internationally recognized human rights by the Central African Republic and Uganda. He also cited Niger and Gabon's failure to establish or make continual progress toward the protection of political pluralism and the rule of law. "Despite intensive engagement between the United States and the Central African Republic, Gabon, Niger, and Uganda, these countries have failed to address United States concerns about their non-compliance with the AGOA eligibility criteria," Biden said in a letter to the speaker of the U.S. House of Representatives. Biden said he intends to terminate the designation of these countries as beneficiary sub-Saharan African countries under the AGOA, effective Jan. 1, 2024.

Persons: Janet Yellen, Joe Biden, Antony Blinken, Walter E, Ken Cedeno, Biden, Jasper Ward, Matthew Lewis Organizations: Africa, Food Security, Food Systems, Washington Convention Center, Washington , D.C, REUTERS, Rights, Central African, U.S . House, Representatives, Thomson Locations: Washington ,, Gabon, Niger, Uganda, Central African Republic, United States, U.S, Washington

☆ Dean Phillips, Democrat from Minnesota, challenges Biden in 2024 race
▼ + stars: | 2023-10-27 | by ( Jarrett Renshaw | ) www.reuters.com time to read: +4 min

Even so, Democrats are wary of any challenge to Biden that could dent the party's chances against likely Republican nominee Donald Trump. He's a friend, someone I deeply respect and admire, but I have a deep disagreement with him on this," Minnesota Democratic Party Chairman Ken Martin said. Top New Hampshire Democrats expect a write-in campaign to kick off on behalf of Biden. Opinion polls show Democrats and Democratic-leaning independents want someone other than Biden, 80, to be the party's nominee, citing concerns about his age. Phillips in August said while he was tired of Trump's fearmongering, he thought Biden should step aside.

Persons: Dean Phillips, Ken Cedeno, Joe Biden, We've, Phillips, Biden, Donald Trump, “ I've, He's, Ken Martin, Martin, Trump's fearmongering, NBC’s “, Jarrett Renshaw, Heather Timmons, Jonathan Oatis, Susan Heavey, Diane Craft Organizations: Washington , D.C, REUTERS, U.S, Dean Phillips of Minnesota, Democratic, New Hampshire's Statehouse, Biden, Republican, Minnesota Democratic, MAGA Republicans, New Hampshire Democratic Party, New, Democratic Party, New Hampshire Democrats, Press, ”, Thomson Locations: Washington ,, America, New Hampshire's, Concord, Nevada, Hampshire, South Carolina, United States, New Hampshire

☆ Bertie Bowman ran away from home at 13 to sweep the steps of Capitol Hill. He died at 92 as the the longest-serving African-American Congressional staffer.
▼ + stars: | 2023-10-25 | by ( Yoonji Han | ) www.businessinsider.com time to read: +6 min

Herbert "Bertie" Bowman was the longest-serving African-American staffer on Capitol Hill in US history. AdvertisementAdvertisementBertie Bowman, the longest-serving African-American staffer on Capitol Hill in history, died at 92 years old on Wednesday morning. Sen. John Kerry hugs Bowman after his confirmation hearing before the Senate Foreign Relations Committee for Secretary of State on January 24, 2013. AdvertisementAdvertisementBowman escorts Hillary Clinton at a hearing before the Senate Foreign Relations Committee on March 2, 2011. Bowman had continued to work in the Capitol until his death, becoming the longest-serving African-American congressional staffer in US history.

Persons: Herbert, Bertie, Bowman, —, Bertie Bowman, Andrew Desiderio, Sen, Ben Cardin, Burnet Maybank, Maybank, Chris Dodd, Tom Williams, I'd, talkshow, Tavis Smiley, Lyndon Johnson, Strom Thurmond, John Kerry, Ken Cedeno, Jesse Helms of, J, William Fulbright of, Bill Clinton, Elvis, Clinton, Chip Somodevilla, he'd, Hillary Clinton, Alex Wong, Helms Organizations: Capitol, Senate, Service, Punchbowl News, Foreign, Station, Senate Foreign, State, William Fulbright of Arkansas, US, Foreign Relations, Washingtonian, Military Force, Islamic Locations: Washington , DC, Ben Cardin of Maryland, Summerton, South Carolina, Washington ,, Washington, Jesse Helms of North Carolina, Vietnam, Islamic State

☆ Biden speech aims to sell US on funding Ukraine, Israel wars
▼ + stars: | 2023-10-19 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +4 min

The White House has said Biden would unveil his additional funding request this week. The administration is considering $60 billion for Ukraine and $10 billion for Israel, according to a source familiar with the matter. The package is also expected to include tens of billions in funding for priorities from Asia to U.S. border security. Republicans in the House are also divided over whether to back more aid, with some far-right conservatives particularly opposed to money for Ukraine. Biden returned overnight from his brief Israel trip aimed at offering U.S. support following the Oct. 7 Hamas attack on Israeli villages and military bases.

Persons: Joe Biden, Ken Cedeno, Biden, Jon, Conservative Jim Jordan, Donald Trump, Republican Patrick McHenry, Biden's, Mount, Trevor Hunnicutt, Susan Heavey, Doina, Idrees Ali, Mike Stone, Jason Lange, Chizu Nomiyama, Jonathan Oatis Organizations: Human, Washington Convention Center, REUTERS, Rights, U.S . House, West Bank, U.S, MSNBC, Senate, Conservative, Republican, Reuters, U.S ., U.S . Navy, Department of Defense, Thomson Locations: Washington , U.S, Israel, Ukraine, Gaza, U.S, Asia, Tel Aviv, McHenry, Washington, Jordan

U.S. President Joe Biden speaks at a dinner hosted by the Human Rights Campaign at the Washington Convention Center in Washington, U.S., October 14, 2023. Israel's request is not an indication that the Biden administration would request, or Congress would approve, that amount. We intend to get the package the end of this week," the Senate's majority leader, Democratic Senator Chuck Schumer, told his weekly press conference. The top Senate Republican, Senator Mitch McConnell, said he expected the request to include assistance for Israel, Ukraine and Taiwan, and said Republicans want it to include "something serious" for the border. Top Biden administration officials will hold a classified briefing on Wednesday for the Senate on the situation in Israel and Gaza.

Persons: Joe Biden, Ken Cedeno, Israel, Biden, Chuck Schumer, Mitch McConnell, Schumer, Bob Menendez, Menendez, Patricia Zengerle, Jonathan Oatis Organizations: Human, Washington Convention Center, REUTERS, Rights, U.S, Hamas, Democratic, Senate Republican, Biden, Senate, Thomson Locations: Washington , U.S, Israel, Ukraine, Taiwan, U.S, Iran, Gaza, Egypt

☆ Biden postpones Colorado trip to focus on national security, White House says
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: +1 min

U.S. President Joe Biden speaks at a dinner hosted by the Human Rights Campaign at the Washington Convention Center in Washington, U.S., October 14, 2023. REUTERS/Ken Cedeno/File Photo Acquire Licensing RightsWASHINGTON, Oct 16 (Reuters) - U.S. President Joe Biden postponed a trip to a wind tower plant in Colorado on Monday to stay at the White House for national security meetings, the White House said, as Biden considers making a trip to Israel amid its conflict with Hamas. U.S. and Israelis officials are discussing the possibility of a visit to Israel soon by Biden at the invitation of Israeli Prime Minister Benjamin Netanyahu, a source familiar with the matter said on Sunday. A visit by Biden to show support for the biggest U.S. ally in the Middle East would follow a similar visit by U.S. Secretary of State Antony Blinken, who is currently in the region. Reporting by Steve Holland; Writing by Doina Chiacu; Editing by Susan HeaveyOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden, Ken Cedeno, Biden, Benjamin Netanyahu, Antony Blinken, Steve Holland, Doina Chiacu, Susan Heavey Organizations: Human, Washington Convention Center, REUTERS, Rights, White House, Hamas, U.S, Thomson Locations: Washington , U.S, Colorado, Israel, Gaza

☆ Biden takes jobs message to Republican hardliner Lauren Boebert's district
▼ + stars: | 2023-10-16 | by ( Nandita Bose | ) www.reuters.com time to read: +3 min

The trip is part of a nationwide tour by Biden and his top aides to promote his economic agenda, which the White House calls “Bidenomics”. In May, Biden made his case on the debt ceiling issue in a New York congressional district that Republicans won by a narrow margin. She was not invited to Biden’s event, the White House official said. Biden won the county by 1,520 votes in November 2020, after Trump had claimed victory by 390 votes in 2016. Biden won Colorado with over 55% of the vote in 2020 against Trump.

Persons: Joe Biden, Lauren Boebert, Donald Trump ., Ken Cedeno, Biden, Boebert, “ Bidenomics, Monday’s, Democratic president’s, Kamala Harris, Republican Majorie Taylor, Trump, America ”, ” Organizations: WASHINGTON, Colorado Congressional, Republican, Donald Trump . U.S, Human, Washington Convention Center, REUTERS, White House, Democratic, Republicans, Biden, U.S, Capitol, Democrat, Colorado, Trump, “, America Locations: Colorado, Washington , U.S, Pueblo , Colorado, New York, Republican Majorie Taylor Greene’s, Georgia, Pueblo County, Denver, Boebert’s

☆ US, Israelis discussing potential Biden visit to Israel, source says
▼ + stars: | 2023-10-15 | by ( ) www.reuters.com time to read: +1 min

U.S. President Joe Biden speaks at a dinner hosted by the Human Rights Campaign at the Washington Convention Center in Washington, U.S., October 14, 2023. REUTERS/Ken Cedeno Acquire Licensing RightsWASHINGTON, Oct 15 (Reuters) - U.S. and Israelis officials are discussing the possibility of a visit to Israel soon by U.S. President Joe Biden at the invitation of Israeli Prime Minister Benjamin Netanyahu, a source familiar with the matter said on Sunday. A visit by Biden to show support for the biggest U.S. ally in the Middle East would follow a similar visit by U.S. Secretary of State Antony Blinken, who is currently in the region. The source, speaking on condition of anonymity, confirmed reports by a variety of Israeli news outlets that Netanyahu invited Biden during a recent phone call about response to the attack on Israel by Hamas militants. Reporting By Steve Holland; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden, Ken Cedeno, Benjamin Netanyahu, Biden, Antony Blinken, Netanyahu, Adrienne Watson, Steve Holland, Sandra Maler Organizations: Human, Washington Convention Center, REUTERS, Rights, U.S, Hamas, Security, Thomson Locations: Washington , U.S, Israel, U.S

☆ US government shutdown possible later this year but no impact on rating - Fitch
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +1 min

A jogger runs by the U.S. Capitol as the deadline to avert a partial government shutdown approaches at the end of the day on Capitol Hill in Washington, U.S., September 30, 2023. REUTERS/Ken Cedeno/File Photo Acquire Licensing RightsNEW YORK, Oct 4 (Reuters) - Credit rating agency Fitch said on Wednesday the ousting of U.S. House Speaker Kevin McCarthy meant a government shutdown later this year was possible, although it would not affect its U.S. sovereign rating. "Given the fact that the House speaker was ousted right after the continuing resolution was agreed, we expect political brinkmanship around government funding negotiations will remain tense and a shutdown later this year can't be ruled out," Richard Francis, a senior director at Fitch, said in a podcast. A shutdown would not impact Fitch's rating as the country's "deterioration in governance" was already captured in Fitch's downgrade of the U.S. in August, Francis said. Reporting by Davide BarbusciaOur Standards: The Thomson Reuters Trust Principles.

Persons: Ken Cedeno, Fitch, Kevin McCarthy, Richard Francis, Francis, Davide Barbuscia Organizations: U.S, Capitol, REUTERS, Fitch, Thomson Locations: Washington , U.S

WASHINGTON, Oct 3 (Reuters) - U.S. House Speaker Kevin McCarthy's grip on power was in question on Tuesday as the House of Representatives, driven by Republican infighting, was holding a historic vote that could remove him from his job. If the rebellion by right-wing fellow Republicans against McCarthy is successful, it would be the first time in U.S. history that House lawmakers voted their leader out. "We need a speaker who will fight for something - anything - other than staying on as speaker," said Republican Representative Bob Good. "Think long and hard before you plunge us into chaos, because that's where we're headed," said Republican Representative Tom Cole. "This country does not need more drama," said Republican Representative Steve Womack.

Persons: Kevin McCarthy's, McCarthy, Matt Gaetz, " McCarthy, Bob Good, Kevin McCarthy, Ken Cedeno, Tom Cole, Joe Biden, Pramila Jayapal, Gaetz, McCarthy's, Steve Womack, Garret Graves, Makini Brice, David Morgan, Richard Cowan, Nandita Bose, Moira Warburton, Susan Heavey, Andy Sullivan, Jonathan Oatis, Alistair Bell, Howard Goller Organizations: ., Republican, Democrats, Democratic, U.S, Capitol, REUTERS, White, Senate, Thomson Locations: Florida, Washington, Washington , U.S

WASHINGTON, Oct 3 (Reuters) - Embattled U.S. House Speaker Kevin McCarthy on Tuesday teed up a vote on a challenge to his leadership by a fellow Republican, in an intra-party dispute that could plunge Congress into chaos. McCarthy said the House of Representatives will vote later in the day on a motion by Representative Matt Gaetz, a McCarthy antagonist, that could potentially remove him from his post. The chamber could hold a straight up or down vote, or could hold a vote to sideline it. House Democratic Leader Hakeem Jeffries declined to say how his members would vote, or whether they would vote as a unit. I think that that's pretty telling," said Republican Representative Tim Burchett, who said he would vote to oust McCarthy.

Persons: Kevin McCarthy, McCarthy, Matt Gaetz, Gaetz, Darrell Issa, Hakeem Jeffries, Joe Biden, Ken Cedeno, Gerry Connolly, McCarthy's, Tim Burchett, Matt, Steve Womack, Makini Brice, David Morgan, Richard Cowan, Nandita Bose, Moira Warburton, Susan Heavey, Andy Sullivan, Jonathan Oatis, Alistair Bell Organizations: Republican, Republicans, Democratic, ., U.S, Capitol, REUTERS, Thomson Locations: Washington, Washington , U.S

President Joe Biden asked Congress in July to approve another $24 billion related to Ukraine, which Ukraine supporters - Republicans as well as Democrats - had hoped could become law as part of a spending bill. A U.S. official said that, as of Monday, the Defense Department had $1.6 billion left to replace weapons sent to Ukraine, no funds left under the Ukraine Security Assistance Initiative (USAI) and $5.4 billion worth of Presidential Drawdown Authority. But he, and some other Republicans in both the House and Senate, refused to include more aid for Ukraine in the measure. "Today, DoD has exhausted nearly all available security assistance funding for Ukraine," McCord wrote in the letter, dated Sept. 29 and expressing concern that the stopgap spending bill did not include security assistance for Ukraine. Ukraine's Foreign Minister Dmytro Kuleba said Kyiv was in talks with Republicans and Democrats in Congress, and that the drama around the stopgap bill was an "incident" rather than something systemic.

Persons: Kevin McCarthy, Ken Cedeno, Joe Biden's, Biden, McCarthy, Joe Biden, UKRAINE DRUMBEAT, Donald Trump, White, Matt Gaetz, Karine Jean, Pierre, Vladimir, Putin, Jean, Michael McCord, McCord, Lockheed Martin’s, Dmytro Kuleba, Patricia Zengerle, Mike Stone, Moira Warburton, Makini Brice, Steve Holland, Don Durfee, Alison Williams Organizations: ., U.S, Capitol, REUTERS, Rights, Ukraine, Republican, Republicans, Defense Department, Ukraine Security Assistance Initiative, Congress, Senate, Reuters Graphics REPUBLICAN, Kyiv, Monday, White, Department of Defense, Pentagon, DoD, RTX, Lockheed, Democrats, Thomson Locations: Washington , U.S, U.S, Washington, Kyiv, Russia, Ukraine, UKRAINE, Tucson , Arizona, Camden , Arkansas

☆ US near-miss with government shutdown illustrates Washington dysfunction
▼ + stars: | 2023-10-01 | by ( David Morgan | ) www.reuters.com time to read: +6 min

WASHINGTON (Reuters) - The U.S. narrowly dodged its fourth partial government shutdown in a decade on Sunday, but the past week exposed the depths of political dysfunction in Washington and particularly within the splintered House Republican caucus. “The dysfunction caucus at work,” Republican Representative Don Bacon told reporters earlier this month, after hardliners blocked consideration of a defense appropriations bill that finally passed on Thursday. He’s a charlatan,” Representative Mike Lawler, a centrist Republican from New York, said of Gaetz after the failed Republican stopgap vote. There are a lot of personalities at play here, and multiple strategic objectives,” Republican Representative Kat Cammack told reporters. “There’s this sort of strange woulda-coulda-shoulda -- appropriations should have just moved faster,” said Republican Representative Dan Crenshaw.

Persons: Ken Cedeno, Kevin McCarthy, Donald Trump, ”, Sarah Binder, McCarthy, Trump, Joe Biden, Biden, Trump’s, Moody’s, Earl Blumenauer, ’, Don Bacon, Monica De La, Matt Gaetz, “ He’s, He’s, Mike Lawler, Gaetz, “, Kat Cammack, Chuck Schumer, Rosa DeLauro, Dan Crenshaw Organizations: WASHINGTON, U.S, Republican, Capitol, REUTERS, Brookings Institution, Democratic, Senate, Aaa, ” Democratic, Republicans, Biden, Republican Party, Reuters, Trump Locations: Washington, Washington , U.S, House, United States, Monica De La Cruz of Texas, New York

☆ Republican House Speaker McCarthy faces ouster threat for avoiding shutdown
▼ + stars: | 2023-10-01 | by ( David Morgan | ) www.reuters.com time to read: +4 min

The Republican-controlled House of Representatives voted 335-91 to adopt a 45-day stopgap measure hours before funding for federal agencies was set to expire. Republican Representative Andy Biggs, a leading hardliner, asked on the social platform X, formerly known as Twitter. Republican Representative Matt Gaetz, who has openly threatened such action, made clear what it would take days before the Saturday vote. Republican Representative Brian Fitzpatrick, who co-chairs the bipartisan Problem Solvers' Caucus, said bipartisanship itself would be the real issue in any vote on McCarthy's future. Some Democrats have suggested they could support McCarthy if an ouster attempt occurred at a turbulent time.

Persons: U.S . House Republican Kevin McCarthy, Joe Biden, Andy Biggs, McCarthy, Biggs, party's, Chuck Schumer, Nancy Pelosi, Kevin McCarthy, Ken Cedeno, Pelosi, Schumer, Bob Good, Matt Gaetz, Joe Biden's, Brian Fitzpatrick, bipartisanship, Fitzpatrick, Hakeem Jeffries, Jim McGovern, I'm, David Morgan, Scott Malone, Daniel Wallis 私 Organizations: U.S . House Republican, Republicans, Republican, Democratic, Twitter, Democrats, Biden, U.S, Capitol, REUTERS, Florida Republican, Voice Locations: Washington, Washington , U.S

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