Goldman Sachs warns that a US government shutdown is likely to occur in 2023 due to lawmakers' failure to agree on a budget, which could negatively impact stocks and economic growth.
There is a possibility of a government shutdown as Congress faces a deadline to pass 12 spending bills, with the most likely scenario being a continuing resolution to extend last year's spending levels for a designated period of time.
The potential government shutdown threatens to deprive the Federal Reserve of crucial data on the labor market and inflation, which could hinder its ability to make informed decisions about the economy and interest rates.
Lawmakers in Congress have less than two weeks to reach a deal on funding the government past September 30, and there is a risk of a partial government shutdown if an agreement is not reached. Some GOP groups are discussing a 30-day stopgap spending patch with border security measures attached, but a shutdown is expected to be short-term.
The White House warns that a government shutdown at the end of the month could have damaging consequences for the economy, national security, and the American public.
A full government shutdown in the US is likely at the end of the month, which could impact the Federal Reserve's decision to raise interest rates in November, according to analysts at PIMCO.
The US government faces a potential shutdown if Congress fails to agree on funding past September 30, which would be the first shutdown since December 2018 and could result in a longer standoff between parties.
If Congress fails to provide funding for the fiscal year starting Oct. 1, many U.S. government services would be disrupted, federal workers would be furloughed without pay, and essential workers would remain on the job without pay.
Millions of federal employees and military personnel face the prospect of a government shutdown, which would result in financial hardships for American families, disruptions in services, and potential harm to the economy.
The looming government shutdown may disrupt the return of student loan payments on October 1, as loan servicers struggle to handle the influx of borrowers seeking assistance.
The federal government is likely to face a shutdown that will affect various services, disrupt workers' pay, and create political turmoil as Republicans demand deep spending cuts.
The impending federal shutdown, combined with other economic challenges such as rising gas prices, student loan payments, and reduced pandemic savings, is expected to strain American households and potentially weaken economic growth in the last quarter of the year.
If lawmakers fail to pass a budget by October 1, the government will shut down and it could have several negative impacts on the economy, such as furloughed workers, difficulty in obtaining mortgages, and the Federal Reserve lacking important data for monetary policy decisions.
A government shutdown in the US may cause the Federal Reserve to delay an interest rate hike and could impact the recent strength of the dollar, analysts have warned. The shutdown could also lead to a delay in key inflation data, which would affect Fed policy decisions, and may put pressure on consumer spending.
The federal government is on the verge of a shutdown, with potential consequences for various areas of governance.
A potential government shutdown looms as Congress struggles to pass a funding bill by Saturday night, which could result in federal workers going without pay and essential services continuing while non-essential services halt.
The House and Senate are racing against time to prevent a government shutdown on October 1st by attempting to pass a measure to keep the government open for 45 days, but the outcome remains uncertain due to the opposition of extreme right-wing lawmakers.
If the federal government shuts down, Social Security checks will still be distributed, but numerous publicly funded agencies will stop work, employees won't be paid, and other federal programs and services will be affected.
If Congress fails to act, a potential government shutdown this weekend could harm the U.S. credit rating, according to Moody's. The agency highlighted the U.S.'s weak fiscal planning and dysfunctional budgeting process as factors that may negatively impact its credit rating.
The White House is preparing for a possible government shutdown on October 1, with senior officials drawing up plans for essential personnel, as lawmakers struggle to find a funding solution.
A government shutdown is looming, and if lawmakers fail to pass a budget or stopgap measure by September 30, federal agencies deemed non-essential will cease operations, impacting federal workers, government benefits recipients, air travel, and the overall economy.
Goldman Sachs' chief economist predicts that the U.S. government is likely to face a two-to-three-week-long shutdown beginning on October 1 due to the failure to reach an agreement on annual budget legislation.
Unless Congress acts soon, the federal government is at risk of shutting down again, leaving millions of federal workers without pay, as House Speaker Kevin McCarthy and his caucus clash over maintaining government operations or implementing drastic spending cuts demanded by conservatives.
Federal agencies are warning their workers of a possible government shutdown, where employees may not receive pay, if Congress fails to reach a funding deal by the end of September 30th.
The Senate voted 76-22 to keep a six-week government funding measure on track to pass this weekend, but it looks increasingly likely the federal government will shut down when funding runs out Saturday.
The U.S. government is facing a potential shutdown if Congress does not resolve a deadlock by this weekend, which would result in furloughs or unpaid work for federal workers and military employees, but experts believe the impact on the economy and stock market will be short-lived.
The chances of a government shutdown are almost 90%, according to the President of the Committee for a Responsible Federal Budget, Maya MacGuineas, who argues that Congress is running out of time to pass a funding bill.
As government funding runs out at the end of September, federal government services are at risk of halting until funding resumes, potentially impacting federal workers, nutrition and food assistance programs, national parks, health care, and law enforcement efforts.
A government shutdown due to a short-term spending bill will cause financial hardship for federal employees and contractors, but there are steps they can take such as contacting their landlord or mortgage loan servicer for assistance.
Summarizing the text given, the US is preparing for a government shutdown as the funding deadline approaches, with potential consequences including delays in work authorizations for migrants, impacts on the Federal Aviation Administration, uncertainty in the House regarding a procedural vote, and concerns about the effects on small businesses and border security.
A government shutdown is looming as lawmakers have until the end of the day Saturday to reach a deal or the U.S. will face one of the largest government shutdowns in history, impacting millions of workers and services.
A potential government shutdown in the United States could lead to furloughs, paused paychecks, and a significant economic impact, potentially costing upwards of $1 billion a week, while the stock market and interest rates may not be heavily affected.
House Republican Marjorie Taylor Greene blames Democrats for the imminent government shutdown occurring when funding expires on Saturday, as Republicans and Democrats struggle to reach an agreement on a new funding bill, risking furloughs for federal workers and potential backlash in Congress.
The United States government is at risk of a partial shutdown, which could impact the progress of crypto bills and hinder the functioning of financial regulators.
The US government narrowly avoided a shutdown after Congress passed a last-minute funding bill and President Joe Biden signed it just before midnight, preventing an unnecessary crisis and ensuring the government remains open until at least November 17.
Congress averted a government shutdown with a temporary deal that keeps funding at current levels until Nov. 17, providing relief for millions of Americans and avoiding a potential furlough of federal employees and delayed food assistance programs, but leaving some, like House Speaker Kevin McCarthy, facing challenges and excluding additional U.S. aid to Ukraine.
