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The war within the House GOP has thrown another wrench into financial markets. Wall Street experts say the political dysfunction behind former Speaker Kevin McCarthy’s (R-Calif.) ouster poses new risks at a time of already heightened fears as the Federal Reserve walks a careful line in its efforts to tamp down inflation. Skyrocketing bond yields…
"Kevin McCarthy is emasculating himself and the Republican majority," one House member said Tuesday.
"It is the bad taste in people's mouths from spiking gas prices ... that's affecting Biden's approval rating," an economist told Newsweek.
House Speaker Kevin McCarthy has blamed President Biden and Democrats for "reckless spending" but must also persuade his own caucus on the debt limit.
Covid initially drove wages up, especially for working-class people. But that’s over—another illustration of capital’s dethronement of labor.