The Absence of a Speaker of the House and Its Impact on Legislative Progress

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This chapter highlights the absence of a Speaker of the House in the US and the hindrance it causes to legislative progress. It discusses the delay in selecting a new Speaker and its impact on important legislative issues, as well as the adjustment of Democrats to higher interest rates.

Kevin McCarthy has been ousted as Speaker of the House of Representatives, the yield on 30-year US Treasuries hit a 16-year peak on Tuesday, India has told Canada to withdraw dozens of diplomats from the country and the Financial Times’ Tom Hale discusses the murky future of China’s Evergrande property group.

Mentioned in this podcast:

Kevin McCarthy ousted as House Speaker by Republican rebels

‘Crimes’ probe into Evergrande founder adds to pressure over $300bn debt woes

India tells Canada to withdraw dozens of diplomatic staff

Bond sell-off intensifies as long-term US yields hit 16-year peak

The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Monique Mulima, Monica Lopez, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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