Without wielding the gavel or holding a formal job laid out in the Constitution, Rep. Hakeem Jeffries might very well be the most powerful person in Congress right now. The minority leader of the House Democrats, it was Jeffries who provided the votes needed to keep the government running despite opposition from House Republicans to prevent a federal shutdown. Jeffries who made sure Democrats delivered the tally to send $95 billion foreign aid to Ukraine and other U.S. allies.
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While the move helps avoid potential liquidity crises that could damage financial markets, it falls short of being as stimulative to risk assets as the Fed's other moves, such as QE....
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