Today, the first moves in the race for House Speaker. Interest rates remain low, but not for long. And Brazilian industry shows a pulse.
The Speaker race begins
Congressman Arthur Lira, from the northeastern state of Alagoas, has formally launched his bid for the House Speaker position — to be decided on February 1, 2021. As the main leader of the so-called “Big Center,” an amalgam of rent-seeking conservative parties with influence in Congress and proximity to President Jair Bolsonaro, Mr. Lira automatically becomes one of the front-runners and will likely face off against a contender handpicked by the current speaker, Rodrigo Maia.
Why it matters. The House Speaker holds tremendous agenda-setting powers and is the only person who can initiate impeachment proceedings against a sitting president.
Path. Mr. Lira has had his eyes on the Speaker’s chair since at least 2017. At the time, though, he was persuaded to withdraw his name from the race to support Mr. Maia, who in turn pledged to support Mr. Lira two years later. But after the incumbent broke his promise and pushed for another term himself, relations between the pair soured.
- That move drew Mr. Lira and the Big Center to...