US: Lots of political and economic events happening at the same time – BBH

Research Team at BBH explains that in the coming weeks, US Congress will have to agree to extend the federal government's spending authority as it runs out at the end of April.  

Key Quotes

“The Treasury is already taking measures to honor the debt ceiling, which also needs to be lifted.  There is also a two-week recess in April, and what looks to be a fight (and possible Democrat filibuster) over the Supreme Court nomination.  A third vacancy on the Fed's Board of Governors will be exposed when Tarullo steps down next month.”

“There is some talk that the Republicans could force a rule change to allow a simple majority to confirm Gorsuch for the Supreme Court.  Doing so, however, would make it harder to reach out to Democrats on other issues.  The Republican Party, like other modern political parties, are coalitions. To be successful, Trump has to forge a majority coalition with the Republicans or find a rump of Democrats with whom to deal.  It is questionable whether the requisite skills for either strategy currently exist.  And even if they do, are they ten-times better?  Consider that the Affordable Care Act was over a year in the making.  The new plan about five-weeks-old, and changing at the last minute. A test for Democratic leadership is whether they can regain the initiative and propose their own reforms to the Affordable Care Act.”