Speaker Nancy Pelosi has announced that she is stepping down from her Democratic Party leadership in the House of Representatives after two decades.
The 82-year-old powerful Democratic leader said she will continue to represent her California district in the House.
Addressing the House Democratic Caucus from the House Chambers, Pelosi said, "I will not seek reelection to Democratic leadership in the next Congress. For me, the hour has come for a new generation to lead the Democratic caucus that I so deeply respect, and I'm grateful that so many are ready and willing to shoulder this awesome responsibility."
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.