Patrick McHenry on Govt. Funding Vote, Kevin Warsh

Summary

Patrick McHenry, former Republican Representative from North Carolina, discusses the government funding fight and the outlook for House action after the Senate vote. He expects a DHS/government funding deal by Wednesday-Friday next week and warns of disaster if none is reached. He also predicts Kevin Warsh will be confirmed as Fed Chair, the Powell investigation will end, and Fed independence will be reinforced. No explicit tradable securities or assets were named.

• Senate is voting on government funding while the House is expected to vote Monday.
• McHenry sees a funding deal by Wednesday-Friday next week or a DHS disaster scenario.
• He says the Senate process is pressuring the House and may sideline dissident factions.
• Thom Tillis's hold on Fed nominees until the Powell investigation ends is a key Senate hurdle.
• McHenry expects Kevin Warsh ultimately to be confirmed as Fed Chair.
• He expects the Powell investigation to end and the Supreme Court to affirm Fed independence.
• No direct investment instruments or asset recommendations were stated.