- House Speaker Nancy Pelosi will not seek reelection to her congressional leadership role. She said to remain a member of Congress and serve out the term.
- The move ends a two-decade streak for Pelosi as the top House Democrat.
- The announcement came after several news outlets projected that Democrats would lose their House majority to Republicans following the midterm elections, CNBC reported.
- Pelosi has also said that a recent attack on her husband, Paul Pelosi, by a hammer-wielding home intruder would affect her decision to remain in leadership.
- Current House Minority Leader Kevin McCarthy is considered the top candidate to become a speaker in the next Congress.
- 82-year-old Pelosi was elected to Congress in 1987. She became the highest-ranking woman in congressional history in 2002. She became House minority leader in 2003 and rose to Speaker of the House after Democrats won back the majority in 2006.
Fed Chair Jerome Powell Among Biggest Macro Catalysts Today
U.S. stocks closed higher on Wednesday with the Nasdaq Composite gaining more than 2% amid a rise in Apple Inc. (NASDAQ: AAPL) and Microsoft Corporation (NASDAQ: MSFT) shares.
