Comey Sacking Creates Problems For Russian Probe

The most prominent congressional investigation into Russian meddling in the U.S. election — and possible ties to President Donald Trump’s campaign — faces its toughest test yet after the firing of FBI Director James Comey.

Senate Intelligence Committee Chairman Richard Burr, a Republican, and Vice Chairman Mark Warner, a Democrat, have sought to present a bipartisan front in the high-pressure probe, and both have said Comey’s FBI was cooperating by providing information to the panel. Now they must start a new relationship with acting FBI Director Andrew McCabe, and later with a new director nominated by Trump and confirmed by the Senate.

Both senators also must contend with what’s likely to be an even more poisoned atmosphere in the Capitol with Democrats seeing “Nixonian” signs of a coverup in Comey’s dismissal by Trump on Tuesday. The president has repeatedly rejected the U.S. intelligence community’s conclusion that Russia intervened in the election to help him defeat Democrat Hillary Clinton.

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.