Political Partisanship: Macro Matters

Political partisanship in Congress will remain wide, which could cause government shutdowns and another debt-ceiling crisis in late 2023, according to Bloomberg Intelligence. In this Macro Matters edition of the FICC Focus Podcast, BI Chief US Interest Rate Strategist Ira Jersey is joined by BI Government Analyst Nathan Dean as the two discuss the upcoming midterm congressional elections, the federal budget continuing resolution and how political partisanship could affect markets. Dean also talks about scenarios if President Joe Biden doesn’t run for reelection. The US Rates Strategy team recently highlighted increased political partisanship in the Senate.  In today’s Fun Fed Fact segment, BI North American Rates Strategist Angelo Manolotos reviews the previous Jackson Hole address by Federal Reserve Chairman Jerome Powell. Jersey and Manolatos discuss what Powell might highlight in his Aug. 26 speech.