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☆ Instant view: Fed hikes rates by 50 bp, as expected, keeps hawkish tone
▼ + stars: | 2022-12-14 | by ( ) www.reuters.com time to read: +8 min

CHRIS ZACCARELLI, CHIEF INVESTMENT OFFICER, INDEPENDENT ADVISOR ALLIANCE, CHARLOTTE“The Fed is taking away the punchbowl just as the party was getting started. They're reiterating their forecasts but the whisper number was that the Fed was going to stop at a 4.5%-4.75% terminal rate. "But the Fed is out there saying that 5.1% is still on the cards … and that rate hikes will continue." BRIAN JACOBSEN, SENIOR INVESTMENT STRATEGIST, ALLSPRING GLOBAL INVESTMENTS, MENOMONEE FALLS, WISCONSIN“The most interesting part of the releases were in the Summary of Economic Projections. And they’re holding it there longer than markets expected.”“In addition, they’re downgrading GDP estimates for this year, and in particular, for next year.

☆ ECB will have to stay laggard in bond-buying exit
▼ + stars: | 2022-12-13 | by ( Francesco Guerrera | ) www.reuters.com time to read: +4 min

Rising yields and a still frail euro zone mean that Europe’s so-called quantitative tightening (QT) should be slow. If it stopped reinvesting all maturing debt from March, its bond portfolio would shrink by 287 billion euros next year. If bond yields do spike, the ECB can step in with an emergency bond-buying programme, called the Transmission Protection Instrument. The real dangers of a disorderly exit mean the ECB has little choice but to remove the punchbowl slowly. The shift is a reversal of nearly a decade of monetary stimulus by the ECB as the euro zone went through several crises.

☆ The effort to ban members of Congress from trading stocks is mostly dead — at least for now
▼ + stars: | 2022-12-06 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +9 min

Time has largely run out in this Congress to ban lawmakers from trading stocks. On Monday, he told Insider in a statement that he would "keep pushing to get this debated on the floor and get it passed." Democratic senators formed a working group, with Senate Majority Leader Chuck Schumer's blessing, to draft legislation to ban stock trading among lawmakers. In the Senate, Democratic Sen. Elizabeth Warren of Massachusetts told Insider that it was "not yet" time to declare the effort dead, pointing to ongoing discussions. "I support a stock ban for members of Congress," he told reporters in September.

☆ House Democrats reviewing Trump's tax returns split into publish-everything and there-are-rules camps with GOP takeover looming
▼ + stars: | 2022-12-02 | by ( Warren Rojas | ) www.businessinsider.com time to read: +5 min

After finally scoring Trump's tax records, House Democrats have to figure out what to do with them. "I want them all released," Ways and Means Committee member Bill Pascrell told MSNBC ahead of Neal's group-wide meeting. José Luis Villegas/AP"Democrats' relentless pursuit of President Trump's tax returns is nothing more than a partisan attack against a political opponent that serves no legitimate or legislative purpose," Buchanan wrote in an email to Insider. Ways and Means Committee member Dan Kildee said he was backing Neal's call in this case. And while he acknowledged they were racing against the clock, Kildee said Ways and Means Democrats would rise to the challenge.

☆ Liz Cheney calls on Kevin McCarthy to condemn Trump for meeting with 'neo-Nazi' Nick Fuentes: 'I know you want to be Speaker, but are you willing to be completely amoral?'
▼ + stars: | 2022-11-29 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +4 min

Rep. Liz Cheney is calling on Kevin McCarthy to condemn Donald Trump for meeting with Nick Fuentes. Fuentes is widely known as a white supremacist and anti-semite. McCarthy has previously said Republicans should avoid Fuentes, but he hasn't spoken out against Trump. "Hey @GOPLeader - where is your condemnation of Donald Trump for meeting with neo-Nazi Nick Fuentes, the pro-Putin leader of the America First Political Action Conference?" The Anti-Defamation League describes Fuentes as a white supremacist, anti-semite, and 2020 election-denier "who seeks to forge a white nationalist alternative to the mainstream GOP."

As House Speaker Nancy Pelosi said herself, quoting scripture on the House floor Thursday: “For everything there is a season — a time for every purpose under heaven.”For Pelosi, the season to be leader of House Democrats has passed. She’ll continue to represent San Francisco while serving as an invaluable source of guidance and resolve for the next generation of House Democratic leaders. At 82, Pelosi is a historic figure, of course: the first female House speaker and one of the strongest speakers, if not the strongest, that America has ever seen. Yet as a minority in a GOP-run House, Democrats won’t be able to rack up accomplishments like they did in the last two years. There were calls for Pelosi to step aside in 2010 when Democrats lost 60 House seats — a true wipeout.

WASHINGTON — House Speaker Nancy Pelosi, D-Calif., is likely to make her future plans clear as soon this week, possibly even Thursday, multiple sources familiar with the matter told NBC News. Pelosi said Sunday she wouldn’t engage with questions about her future until all races were called. Meanwhile, Rep. Hakeem Jeffries, chair of the House Democratic Caucus, is being urged to pursue the leadership role and has met with rank-and-file members. In the office of New Jersey Rep. Josh Gottheimer on Tuesday, he was urged not to miss his moment. Punchbowl News was first to report the Pelosi call with the CA delegation.

☆ U.S.'s Hoyer to leave leadership, backs Jeffries as top House Democrat -Punchbowl News
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: 1 min

Column: Warnings of Medicare fraud mount; here is how to avoid it, article with imageUnited States category · November 17, 2022 · 4:28 PM UTCA new report from the U.S. Senate Finance Committee documents a range of fraudulent and misleading marketing practices used to sell Medicare Advantage plans - and some of them are real eye-openers.

☆ Premarket stocks: Crypto is in crisis. It's not just because of FTX
▼ + stars: | 2022-11-14 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN Business —The stunning downfall of FTX, one of the largest cryptocurrency exchanges, sent shockwaves through the crypto universe last week. Sam Bankman-Fried, the 30-year-old crypto titan and chief executive of FTX, watched billions of his fortune evaporate in a bankruptcy filing that shook the trillion-dollar industry to its core. Those efforts mean capital is drying up – and that’s not just bad for crypto but other asset classes including stocks, too. Cryptocurrencies enjoyed huge injections of money during the pandemic era thanks to the Federal Reserve’s easy money policy. “In all, the slowdown in global money growth looks set to continue over the coming year, with some contraction looking likely in the US,” wrote JPMorgan strategist Nikolaos Panigirtzoglou in a note.

Circuit Court of Appeals said Monday. Punchbowl Inc sued Punchbowl News' parent company, AJ Press LLC, for trademark infringement last year in Los Angeles federal court. The appeals court also agreed with the lower court that AJ Press' name was not misleading. Circuit Court of Appeals, No. For Punchbowl Inc: Peter Willsey of Brown RudnickFor Punchbowl News: Ian Ballon of Greenberg TraurigOur Standards: The Thomson Reuters Trust Principles.

☆ Rep. Sean Patrick Maloney, leader of the House Democrats' campaign arm, conceded to a New York Republican in a shocking upset
▼ + stars: | 2022-11-09 | by ( Brent D. Griffiths | Bryan Metzger | ) www.businessinsider.com time to read: +4 min

Rep. Sean Patrick Maloney conceded defeat early Wednesday morning. Maloney is the leader of House Democrats' campaign arm. "In New York, we defeated Sean Patrick Maloney," House Minority Leader Kevin McCarthy boasted early Wednesday morning long before Maloney conceded. "Last night, House Democrats stood our ground," he told reporters on Wednesday. Maloney's demise may be greeted with a degree of schadenfreude by House Democrats.

☆ Elon Musk tells his Twitter followers to vote for Republicans the day before the midterms, despite saying Twitter should be 'politically neutral'
▼ + stars: | 2022-11-07 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +2 min

Elon Musk told his followers on Monday to elect a Republican Congress in the midterm elections. In August, Musk was reportedly a VIP guest of House GOP Leader Kevin McCarthy at his annual donor retreat. Musk announced in May that he would vote Republican in the upcoming election cycle after years of voting for Democrats. Responding to Musk's tweet, Punchbowl News founder Jake Sherman tweeted that Musk has "long been friendly with Kevin McCarthy." Reuters journalist Kanishka Raj Singh dug up a tweet from Musk in April in which he said Twitter should be politically neutral.

☆ Democrats resigned to losing the House see a silver lining in 2024 if Kevin McCarthy and Mitch McConnell clash and fail to rein in the Trump wing of the GOP
▼ + stars: | 2022-11-05 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +8 min

Democrats expect chaos next Congress as they face losing control of the House and possibly the Senate. They say far-right House members will be running the show as Kevin McCarthy struggles to control them. Between McCarthy and McConnell, Democrats view McConnell as the leader with more control over his caucus and they foresee future splits on legislation and priorities. Former President Barack Obama called it a "shellacking" when Democrats lost 63 House seats and 6 Senate seats in 2010. He expects House Democrats to lose about 30 seats, dropping from 222 to 190 and Republicans increasing from 212 to about 240.

LONDON/SINGAPORE, Nov 4 (Reuters) - Global stocks rose on Friday for the first time in three days ahead of key U.S. jobs data, as investors took heart from reports China may relax its COVID rules, boosting major currencies against the dollar and prompting a 2% rally in oil. The Hang Seng (.HSI) rose 5.4%, bringing gains for the week to 8.75%, its strongest weekly performance in a decade. This has been one of the factors that has enabled the Fed to relentlessly raise interest rates to tame inflation. In commodities, oil bounced, fuelled by hopes for a relaxation of zero-COVID rules in China, which is home to some of the world's biggest energy consumers. Brent crude rose 3% to $97.66 a barrel, while U.S. crude gained 3.5% to trade at $91.26 a barrel.

LONDON/SINGAPORE, Nov 4 (Reuters) - Global stocks rose on Friday for the first time in three days ahead of key U.S. jobs data, as investors took heart from reports China may relax its COVID rules, boosting major currencies against the dollar and prompting a 2% rally in oil. The Hang Seng (.HSI) rose 5.4%, bringing gains for the week to 8.75%, its strongest weekly performance in a decade. This has been one of the factors that has enabled the Fed to relentlessly raise interest rates to tame inflation. In commodities, oil bounced, fuelled by hopes for a relaxation of zero-COVID rules in China, which is home to some of the world's biggest energy consumers. Brent crude rose 2% to $96.96 a barrel, while U.S. crude gained 2.8% to trade at $90.63 a barrel.

☆ Stocks in Asia rise on China reopening hopes
▼ + stars: | 2022-11-04 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

The Hong Kong index was set for its biggest weekly gain in over a decade. European stock futures indicated stocks were set to gain, with the Eurostoxx 50 futures up 0.67%, German DAX futures up 0.45% and FTSE futures up 0.63%. Hong Kong and China stocks have moved sharply through the week. Rumours based on an unverified note circulated on social media on Tuesday that China was planning a reopening from strict COVID curbs in March. Additional reporting by Summer Zhen in Hong Kong; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

☆ China leads Asia stocks higher, dollar advances as rate hikes loom
▼ + stars: | 2022-11-04 | by ( Ankur Banerjee | ) www.reuters.com time to read: +2 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 1.09% higher, while Australia's S&P/ASX 200 index (.AXJO) rose 0.27%. China's stock market (.SSEC) was 1% higher, with Hong Kong's Hang Seng Index (.HSI) surging 3%. On Thursday, U.S. stocks closed lower for a fourth consecutive session, while Treasury yields jumped, with the two-year note climbing above 4.7%. The U.S. dollar index , which measures the greenback against a basket of currencies, firmed to 112.90, after surging 0.8% overnight and touching a roughly two-week high of 113.15. U.S. crude futures were up 0.59% at $88.69 per barrel by midmorning and Brent was at $95.16, up 0.52%.

☆ Pennsylvania is home to one of the likely 'tipping-point' districts in the midterm elections. Voters and experts explain what's at stake for abortion, inflation, and control of Congress.
▼ + stars: | 2022-11-04 | by ( Madison Hoff | ) www.businessinsider.com time to read: +11 min

"I can go down the list and check things: incumbency, check Wild; inflation, check Scheller; district reconfiguration, check Scheller; abortion issue, check Wild." The Pennsylvania Senate race is also hotly contestedWith the Republican Toomey retiring, CNN projected Pennsylvania could flip; NPR agreed, saying it's the "most likely Senate seat to change hands." Chen said that Oz is "continuing to close on" Fetterman, though, because Pennsylvania voters, "especially in the Lehigh Valley, are willing to split their tickets." That poll showed 34% of surveyed voters listed inflation as their most important issue in the election, followed by 28% of surveyed voters who named abortion. "Those are all issues that if we don't maintain a United States Senate, control of the United States Senate, I think this country could be really in danger," Halma said.

☆ Liberal U.S. lawmakers withdraw Ukraine letter after blowback
▼ + stars: | 2022-10-25 | by ( Patricia Zengerle | ) www.reuters.com time to read: +2 min

REUTERS/Clodagh KilcoyneWASHINGTON, Oct 25 (Reuters) - The U.S. Congressional Progressive Caucus withdrew a letter to the White House urging a negotiated settlement to the war in Ukraine, the group's chairperson, Democratic Representative Pramila Jayapal, said on Tuesday. “The Congressional Progressive Caucus hereby withdraws its recent letter to the White House regarding Ukraine," Jayapal said in a statement. The letter drew immediate pushback, including from some members of the Progressive Caucus. In her statement withdrawing the letter, Jayapal said that, because of the timing, the letter was being conflated as being equivalent to McCarthy's remark. As such, it is a distraction at this time and we withdraw the letter," Jayapal's statement said.

☆ Democrats struggle with message on inflation in final midterm push
▼ + stars: | 2022-10-22 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Shannon-Pettypiece-Circle-Byline-Template.Jpg | Shannon Pettypiece | ) www.nbcnews.com time to read: +10 min

“What is our message about why inflation is going to be worse if Republicans win?” Rep. Ro Khanna, D-Calif., told NBC News in an interview. Even as President Joe Biden and some candidates sharpen their focus on inflation, many Democrats are worried it may be coming too late. “Ads for both parties discussed inflation during the early summer, but since then, pro-Democratic ads have avoided mentions of inflation while pro-Republican ads have increased their discussion of inflation,” the researchers wrote. Economic issues are hitting voters particularly hard in states where Democrats’ control of the Senate hangs in the balance, including Arizona, Georgia and Nevada. In campaign appearances and ads, she’s frequently attempted to explain to voters that the Inflation Reduction Act will lower costs for voters.

☆ Analysis: U.S. Republicans aim at Ukraine aid but unlikely to block it
▼ + stars: | 2022-10-21 | by ( Patricia Zengerle | ) www.reuters.com time to read: +6 min

All 57 House votes against a bill providing more than $40 billion for Ukraine in May came from Republicans. Anderson said some Republicans have viewed Ukrainian President Volodymyr Zelenskiy's administration as corrupt since Trump's first impeachment trial. House Democrats voted to impeach Trump in 2019 on charges he held up military aid for Kyiv to put pressure on Zelenskiy to investigate one of Biden's sons. Several defense industry executives said they viewed the Republican comments on Ukraine aid as political rhetoric ahead of the midterms, not a threat. A Reuters/Ipsos opinion survey this month showed 73% of Americans felt the United States should continue to support Kyiv.

☆ Mitch McConnell breaks with Kevin McCarthy, pledges to send more aid to Ukraine if Republicans win the Senate
▼ + stars: | 2022-10-21 | by ( Oma Seddiq | ) www.businessinsider.com time to read: +3 min

McConnell on Friday urged the Biden administration to deliver more military support to Ukraine. His comments come after McCarthy expressed skepticism about sending more aid to Ukraine. Support to Ukraine has been approved on an "overwhelming bipartisan basis" and must be "expedited," McConnell said. A GOP split over Ukraine could take center-stage if Republicans retake the House and Senate in the midterm elections. In the meantime, the Biden administration could also push through a new Ukraine deal in the lame duck period before the new Congress begins in January.

☆ Trump's yearslong crusade against Ukraine has finally come home to roost as Republicans call for abandoning Kyiv
▼ + stars: | 2022-10-20 | by ( John Haltiwanger | Sonam Sheth | ) www.businessinsider.com time to read: +10 min

US aid to Ukraine could be in jeopardy if Republicans win the House in the midterms. Several GOP lawmakers and candidates have signaled they would support reducing or cutting off Ukraine aid. In April, 10 House Republicans voted against a bill allowing the Biden administration to more easily lend military equipment to Ukraine. The following month, 57 House Republicans voted "no" on a nearly $40 billion aid package for Ukraine. Some GOP opposition to continuing aid to Ukraine is tied to Trump's "America First" policy vis-a-vis foreign affairs.

☆ Adam Kinzinger said Kevin McCarthy was giving 'aid and comfort to the enemy' and fodder to Russian media by suggesting GOP may not send more aid to Ukraine
▼ + stars: | 2022-10-20 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +2 min

House Minority Leader Kevin McCarthy said if the GOP wins the House they may not be as forthcoming with Ukraine aid. His comments suggested bipartisan support for aiding Ukraine could be waning. "I think people are gonna be sitting in a recession and they're not going to write a blank check to Ukraine," McCarthy told Punchbowl News. Some saw the comments as a sign that the broad bipartisan support for aiding Ukraine could be waning. Kinzinger said he thought McCarthy's comments were intended to appeal to the extreme members of the Republican party.

☆ Mike Pence said there's no room for Putin 'apologists' in the Republican Party as he criticized Russia's 'unconscionable war' in Ukraine: AP
▼ + stars: | 2022-10-20 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

Mike Pence spoke out against Putin "apologists" and the growing populism in the GOP on Wednesday. Several Republicans have either supported Putin or dismissed the war he's waged against Ukraine. Pence also criticized the group of Republicans who have defended Russia's war in Ukraine or dismissed it by arguing the US should stay out of foreign affairs. "As Russia continues its unconscionable war of aggression to Ukraine, I believe that conservatives must make it clear that Putin must stop and Putin will pay," he added. "There can be no room in the conservative movement for apologists to Putin.

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