Donald Trump’s impending impeachment is arguably the most important headline today. The House of Representatives will impeach the President of the United States later today. The lower chamber of Congress is controlled by Democrats, so they have the majority, but in addition to that, a few Republicans have said they will vote in favor of the impeachment because the President betrayed their trust by inciting the violent attack on Capitol last week.
In a surprising twist, Mitch McConnell, who leads Senate Republicans, said that he was glad the President is getting impeached. McConnell was among Trump’s most dedicated defenders during the first impeachment trial. However, his relationship with the President has deteriorated since the elections, and McConnell was critical of last week’s events. Even before the riot reached the Capitol, McConnell refused to accept objections to the certification of the election results, going against Trump completely.
Just because Mitch McConnell wants to see the article of impeachment make it to the Senate doesn’t mean that he will actually end up voting against the president. But this doubt over Trump’s suitability for office and the chaos that erupted in Trump’s last two months as President are making Republicans question what their party stands for, and what kind of person they want to see run against Biden in 2024.
If Trump gets impeached by the Senate as well, he will not be able to hold public office anymore, i.e. his political career will come to an end.
More news is coming out of the US regarding Trump supporters preparing for possibly armed protests next week as Biden’s inauguration looms closer. More violence like what the Capitol experienced last week may help turn Senate Republicans against Trump for good.
Meanwhile, the dollar is slightly weaker today, thanks to statements from the Federal Reserve debunking an earlier speculation that it will turn less dovish this year and reduce its asset purchases. Inflation data from the US is on the calendar today and may further influence the dollar.
US stock indices today are mostly flat due to all of the confusion in the United States and the somewhat undecided course of the dollar at the moment.
