Steve Scalise News

By David Morgan and Moira Warburton

Investing.com -- U.S. stock futures inch higher, as markets prepared for all-important September consumer price data that could influence how the Federal Reserve approaches future interest rate decisions. Minutes from the Fed's meeting last month showed caution among policymakers, although some officials are now wondering if a weeks-long surge in U.S. Treasury yields has tightened financial conditions for them. Elsewhere, Steve Scalise is nominated by his Republican colleagues as the new House Speaker, as the lower chamber of Congress remains at a standstill despite facing a host of major legislative questions.

By David Morgan, Richard Cowan and Moira Warburton

By Makini Brice

At the time of publication, half of the legislative branch of the federal government of the United States was largely paralyzed following a vote ousting then Speaker Kevin McCarthy.

By Katharine Jackson

By David Morgan

WASHINGTON (Reuters) -Former U.S. House Speaker Kevin McCarthy said on Thursday he will finish his term and run for re-election, CBS News reported after media reports suggested the Republican would resign from Congress before the end of his term.

Former President Donald Trump is emerging as a wild card in the race for the next speaker of the House, potentially tipping the balance as the party tries to unite behind a candidate and avoid another grueling fight. Early Friday morning, Trump weighed in with his endorsement, backing Rep. Jim Jordan (R., Ohio) to succeed former Speaker Kevin McCarthy, after the California Republican was ousted earlier this week.

(Reuters) — U.S. stock index futures fell on Thursday as investors awaited more data to gauge the strength of the labor market, while elevated Treasury yields still pointed to worries about high interest rates for a prolonged period.

By David Morgan, Moira Warburton and Makini Brice

WASHINGTON—A Republican Party still reeling from the sudden ouster of Kevin McCarthy is now rushing to find a new leader that could unite a fractured conference and be elected speaker as soon as next week. After a chaotic day of voting toppled McCarthy, Speaker Pro Tempore Patrick McHenry (R., N.C.)—running the House temporarily—closed the chamber to give colleagues time to find their next leader. He said Republican hopefuls would make their pitch next Tuesday with the goal of a vote the following Wednesday.

House Majority Leader Steve Scalise of Louisiana, a prominent figure in the Republican Party, unveiled on Tuesday that he has been diagnosed with multiple myeloma, a form of blood cancer that he described as «very treatable.» This revelation has cast a spotlight on Scalise's resilience as he embarks on a new chapter of personal and professional challenges. Diagnosis and Determination The No. 2 ranking House Republican shared the news of his diagnosis after experiencing a bout of unusual health symptoms. Following blood tests and comprehensive medical evaluations, Scalise received the diagnosis of multiple myeloma, which he reassured is a form of blood cancer that is highly amenable to treatment. Scalise remarked, «I am incredibly grateful we were able to detect this early and that this cancer is treatable.» This sentiment was echoed by the strong resolve he displayed, affirming his commitment to serving as the majority leader when lawmakers convene in Washington this coming September.

WASHINGTON—House Republican leaders projected confidence Wednesday that they would pass their bill raising the nation’s $31.4 trillion borrowing limit in exchange for deep cuts in government spending, saying a final vote could occur soon.