“I'm the tiebreaker. I'm the tie vote,” said US Vice President Kamala Harris while shrugging off fears over US President Joe Biden’s Build Back Better (BBB) stimulus plan during an interview on CBS' "Face The Nation" television show.
US VP Harris also cited battling inflation and coronavirus as major concerns and mentioned, “The United States must address the rising cost of consumer goods,” on the stated TV appearance.
“The United States and Russia are in direct talks about Ukraine,” adds US VP Harris.
It’s worth noting that Goldman Sachs recently raised doubts over the passage of the BBB while saying, “While Congress is likely to approve some new spending on manufacturing and supply chain-related incentives, we no longer expect the Senate to pass the Build Back Better bill and the near-term spending it includes on the extension of the expanded child tax credit."
FX reaction
Given the push for inflation control hints at tighter monetary policy, the US dollar should have benefited from the news. However, holiday mood restricts the market reaction despite helping the greenback and adding to the risk-off mood.
Read: AUD/USD extends pullback from monthly high towards 0.7200 amid Omicron woes
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD trades on the back foot near 1.0600
EUR/USD is trading near 1.0600 in Tuesday's European trading hours, finding fresh sellers amid a pause in the US Dollar corrective decline. The pair remains cautious amid increased dovish ECB rate cut bets and geopolitical risks. ECB and Fed policymakers' speeches eyed.
GBP/USD struggles below 1.2700, awaits Bailey's testimony
GBP/USD struggles below 1.2700 in European trading on Tuesday, lacking a bullish conviction amid a steady US Dollar and as investors opt to wait for the Bank of England's (BoE) Monetary Policy Report Hearings before placing aggressive directional bets.
Gold price consolidates intraday gains to one-week high amid mixed cues
Gold price (XAU/USD) trims a part of its modest intraday gains to a one-week top and trades around the $2,620 level during the first half of the European session on Tuesday, still up for the second straight day.
Chiliz Price Forecast: Targeting a 40% upswing ahead
Chiliz (CHZ) price continues to trade in green on Tuesday after rallying more than 14% in the previous day. The technical outlook suggests a further gain of 40%, and CHZ’s open interest is also rising, indicating an influx of additional money.
The week ahead: Powell stumps the US stock rally as Bitcoin surges, as we wait Nvidia earnings, UK CPI
The mood music is shifting for the Trump trade. Stocks fell sharply at the end of last week, led by big tech. The S&P 500 was down by more than 2% last week, its weakest performance in 2 months, while the Nasdaq was lower by 3%. The market has now given back half of the post-Trump election win gains.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.