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House speaker receives additional request from GOP member to resign or be ousted

House Speaker Faces New Call by Another Republican to Step Down or Face Removal

House Speaker Johnson says he’s not resigning

House Speaker Mike Johnson says he’s not resigning as momentum grows for ouster

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Washington — House Speaker Mike Johnson is facing a new call by another Republican lawmaker to step down or face removal, but he said Tuesday he’s not resigning.

Kentucky Rep. Thomas Massie said Tuesday that he’d co-sponsor a motion to vacate the speaker filed last month by GOP Rep. Marjorie Taylor Greene of Georgia. She laid the groundwork for an eventual vote to strip Johnson of his gavel after he worked with Democrats to approve a government funding package and avert a partial shutdown weeks ago. But Greene has yet to commit to a timeline on calling for a vote on the resolution to remove Johnson.

Massie said he told Johnson in the closed-door Republican conference meeting Tuesday morning that he would co-sponsor the motion to vacate, adding in a post on social media that Johnson “should pre-announce his resignation” so the conference can work on selecting his replacement. But Johnson said at a news conference after the meeting that he is “not resigning,” calling it “an absurd notion” that someone would bring a motion to vacate “when we are simply here trying to do our jobs.”

Speaker Mike Johnson speaks to the press following a House Conference meeting to discuss Iran's attack on Israel at the U.S. Capitol in Washington, DC. — Speaker Mike Johnson speaks to the press following a House Conference meeting to discuss Iran’s attack on Israel at the U.S. Capitol in Washington, DC.

Anna Rose Layden / Getty Images

“It is not helpful to the cause, it is not helpful to the country. It does not help the House Republicans advance our agenda which is in the best interest of the American people here,” Johnson, a Louisiana Republican, said.

Massie predicted to reporters that “the motion will get called, and then he’s gonna lose more votes than Kevin McCarthy,” referencing the former speaker who was ousted from his post in October.

The move came after Johnson unveiled a plan Monday to push forward with four bills to address foreign aid. Although the Senate earlier this year passed a supplemental funding bill to provide aid to U.S. allies that the White House has urged the speaker to take up in the House, Johnson outlined that his plan would separately provide funding for Israel, Ukraine and Taiwan, while another bill would address other GOP foreign policy priorities. The push came after lawmakers expressed new urgency around approving the funds for Israel following unprecedented airstrikes by Iran over the weekend.

Johnson said Tuesday that “we are in unprecedented times,” adding that he regards himself as a “wartime speaker.”

“We need steady leadership, we need steady hands at the wheel,” he said.

Ellis Kim contributed reporting.

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Is now the right time to invest in gold as prices have cooled?

Now may be the time to buy gold following a recent lull in its price.

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The price of gold has climbed to record highs recently and has remained strong through much of April. And, that growth continued until the precious metal traded at around $2,390 per ounce on April 19, 2024. But since, growth in the price of the precious metal has cooled, with gold’s price now hovering around $2,300 per ounce.

This lull in gold’s price may represent an investment opportunity.

In general, investing is centered around buying assets when prices are low and selling them when prices are high – generating a profit on the difference between the two. So, considering the declines in gold’s price over the past few days, now may be the time to make your investment. But is buying gold during this lull in prices really a good idea?

Compare your gold investment options among leading brokers now.

Gold prices have cooled. Should you buy in now?

With gold’s price down from recent highs, you may be wondering if now is the right time to buy in. There are several reasons the dip in gold’s price may represent an opportunity to buy. Here are some of the biggest:

Prices may rise again

If looking at a gold price chart shows anything for certain, it shows that changes in the overall growth of the medal come in fits and spurts. Periods of price growth are typically followed by periods of declines and vice versa.

But with inflation rising in recent months – and with gold’s reputation as a safe-haven asset that can hedge against inflation – it only makes sense that the price of the precious metal will eventually start to head up again in the future. While attempting to time that directional change may be tricky, buying the precious metal while the price is down gives you the opportunity to take advantage of any upward movement that may be ahead.

Add gold to your portfolio now before prices have a chance to rise.

You may be able to make a quick profit

Gold isn’t known as an asset in which you can earn a quick return, but in today’s market, that may be the case. Don’t forget that in January, gold was trading at just $2,000 per ounce. And, by mid-April, the commodity’s price had climbed to around $2,400 per ounce. That’s about 20% growth in a matter of months, much of which happened since March 1 – an impressive climb for any investment asset.

Perhaps more importantly, gold’s price growth through the beginning of 2024 shows that the commodity doesn’t have to be a buy and hold style investment that you keep in a safety deposit box or precious metal depository for years to come. There’s also the possibility that the commodity’s price could climb further ahead, making it a compelling way to potentially generate a quick profit.

There are other benefits of investing in gold

There are other benefits of investing in gold that have little to do with the price growth seen thus far in 2024 – or the lull in prices seen over the past couple of days. Those benefits include:

Inflation protection: Gold has long been considered an inflation hedge, and for good reason. When inflation drives the prices of consumer goods and services up – and the value of the dollar down – gold’s price tends to rise. So, it could be used to maintain the value of your portfolio during inflationary economic conditions. That’s important in today’s economic environment as stubborn inflation continues to weigh on the value of the dollar.
Portfolio diversification: Gold’s price doesn’t always move in the same pattern that bonds or stocks do. So, mixing a reasonable amount of gold into your portfolio (up to 10% of your portfolio assets) as a diversifier could protect you from losses should one or more of your traditional portfolio assets fall in value. “If you have less than 5% – 10% of your net worth in commodities & FX (forex), you should absolutely consider adding exposure to gold and other precious metals,” says Vijay Marolia, money manager and managing partner at the wealth management firm, Regal Point Capital.

The bottom line

Gold’s price has fallen from recent highs – which may represent an opportunity to tap into growth ahead. However, gold isn’t simply a “buy while it’s low and sell while it’s a high” kind of investment opportunity. The commodity can also protect your portfolio from the stubborn inflation we’ve seen thus far in 2024 while acting as a diversification tool that could increase your risk-adjusted portfolio returns. So, consider adding gold to your portfolio today while it has the potential to grow in value.

Joshua Rodriguez

Joshua Rodriguez is a personal finance and investing writer with a passion for his craft. When he’s not working, he enjoys time with his wife, two kids, two dogs and two ducks.