US political drama will not go away - BBH

In view of analysts at BBH, US political drama will not go away and is still, however, too early to tell the extent of the distraction on the legislative process that is taking place.  

Key Quotes

“Committee work continues.  The Financial Choice Act that seeks to replace and repeal the national financial regulatory framework (Dodd-Frank) passed the House of Representatives last week.  However, its fate is similar but different than the attempt to replace and repeal the Affordable Care Act (Obamacare).  The House version will not pass the Senate, and the Senate leaders have indicated they have other priorities.”

“US Attorney General Sessions is expected to testify before the Senate Intelligence Committee on the investigation into Russia's attempt to influence the US election.  Sessions reportedly met with Russian official more time that he initially acknowledged.  Separately, he also is being blamed for the ineffective strategy to impose a ban on immigrants from a select number of countries.  There are reports that he offered his resignation.  He is thought to be a likely candidate for the reshuffle of President Trump's senior team that has long been rumored to be taking place soon.”

“Many are closely following the tight congressional race in Georgia to fill the seat vacated by the new Secretary of Housing and Human Services.  It has become the most expensive congressional election in history, and between the first round (April 18) and the second round (June 20), the UK called and held a national election.  In any event, both parties see it as an important harbinger for the midterm elections in 2018.”