Bloomberg Surveillance
Surveillance: Rep. Hill on McCarthy Ousting
Oct 4, 2023
Rep. French Hill discusses GOP losing their way tactically. Gene Tannuzzo warns of a steepening that should concern investors. Andrew Hollenhorst explains the Fed's intentions with higher 10-year yields. Chris Marinac doesn't expect big bank failures. Jennifer Flitton suggests a government shutdown is possible on Nov 17th.
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Quick takeaways
- The Republican Party has lost their way tactically and needs to find common ground to reach a resolution.
- A government shutdown is likely due to the division within the Republican conference and lack of unity.
Deep dives
Congressman McHenry takes a stand in the face of rebellion
Congressman Patrick McHenry, chairman of the Financial Services Committee, stood firm against a small group of Republican members who sought to unseat Speaker Kevin McCarthy. While this rebellion represented a minority within the party, it highlighted a different thinking that emerged in the Republican Party after the election of Donald Trump.
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