According to a news article in the Washington Post, there are indications that the hardline faction of the Republican Party in the US House of Representatives is planning to remove House Speaker McCarthy and install one of his subordinates, Tom Emmer, as the new leader. This move is believed to be motivated by the faction’s desire for a more compliant leader who will be more responsive to their demands. The article suggests that this development is likely to happen early next week, following the expected shutdown of the US government.
The political instability caused by the ongoing shenanigans in the House of Representatives has already had consequences for the US economy. S&P and Fitch have downgraded the country’s credit rating, citing this instability as a significant factor. Moody’s has also warned that it may take a similar action. These downgrades reflect concerns about the unresolved political situation and its potential impact on the financial stability of the United States.
The news article highlights the continued turmoil within the Republican Party and suggests that the leadership change in the House of Representatives may exacerbate the political instability in the country. As the government shutdown looms, the potential downgrade of the US credit rating adds another layer of concern. It remains to be seen how these developments will impact the ongoing political and economic landscape of the United States.