Welcome to the FIA News & Insights, a one-stop resource that includes insights from senior investment professionals on timely market events, their views on the economy and their respective markets. Find updates on the latest media information on Frost Investment Advisors, LLC and the most recent reprints, as well as, archival information for your reference.
Debt Ceiling Kabuki
Last week, the House of Representatives voted along party lines to suspend the $28.4 trillion debt ceiling and fund the federal government beyond Sept. 30, the end of the current fiscal year. Republican Senate Leader Mitch McConnell, however, has made it clear that Senate Republicans will block the effort to frame the vote for a hike in the spending cap as acceptance of the $3.5 trillion Biden Administration domestic spending package the House and Senate will take up in coming weeks. After the House vote, McConnell and Republican Sen. Richard Shelby introduced a bill to fund current government operations through Dec. 3, but without raising the debt limit.
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