The US has seven days to avert a government shutdown

[forex4you]

The US has seven days to avert a government shutdown

Eyes are on US House Republicans who are trying to pass a Republican-only bill to avoid a government shutdown when the calendar turns.

House Speaker Kevin McCarthy will try to win approval of four larger bills, including funding for the military and homeland security, that he could then parlay into a short-term funding bill.

Rep. Graves said Republicans are considering a stopgap government funding measure that
would range from 14 to 60 days.

The problem is that some far-right Republicans want deep spending cuts and have shown no sign of compromise. That may for Republicans into a bipartisan compromise. However some Republicans are warning they could try to strip McCarthy of the Speakership if he tries to work with Democrats.

In terms of markets, a one-week shutdown would be largely immaterial for markets but if it were to approach a month there would be measurable economic impacts.

                This article was written by Adam Button at www.forexlive.com.

Source: The US has seven days to avert a government shutdown

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