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LEADING ECONOMIC AND POLICY NEWSHouse Speaker Nearing A Decision On A Path To Avert A Government ShutdownReuters reports House Speaker Johnson told “key” House Republicans on Wednesday “that he will decide within the next two days on a path to avert a potential government shutdown, according to lawmakers.” Johnson “told top Republican members of the House Appropriations Committee that he would decide on a stopgap measure within 24 to 48 hours, according to lawmakers who met with him behind closed doors on Wednesday.” The House and Senate “have just over a week to agree on a stopgap spending measure to keep federal agencies open after current funding expires on Nov. 17.” While there have been “signs of some bipartisan discussion between the chambers, Johnson is focused on his own 221-212 House majority, which is struggling to agree on detailed spending plans for the fiscal year ending Sept. 30, 2024.” US Council Of Economic Advisers Chair Expresses Optimism On US Economic Growth, Despite Israel-Hamas War, Possible Government ShutdownReuters reports US Council of Economic Advisers Chair Jared Bernstein “said on Wednesday he did not ‘thus far’ see the Israel-Gaza war as an exogenous shock that could derail U.S. economic growth, but noted that Washington was watching its impact on oil prices.” Bernstein “said he remained generally upbeat about the U.S. economy, and did not expect a possible government shutdown to result in a recession, although it was hard to be sure without knowing the length of any potential disruption.” Bernstein said, “I’d say from the tailwind perspective, we’re looking at a pretty clear transition to steady and stable growth. ... On the headwind side, certainly being in a higher rate environment is something we have to be mindful of. There is obviously a terrible new conflict in a part of the world that is sensitive for energy production, so we have to watch the price of oil, which has actually come down recently.” S&P 500, Nasdaq Extend Winning StreaksCNBC reports that the S&P 500 “rose for an eighth consecutive day on Wednesday, extending its longest win streak in two years. The broad market index added 0.1% to finish at 4,382.78 and match an eight-day string of gains it notched in November 2021.” The Nasdaq Composite “inched up 0.08% to end at 13,650.41. The Dow Jones Industrial Average lost 40.33 points, or 0.12%, to close at 34,112.27 and snap its best win streak since July.” Previous Top Stories | |||||||||||
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If you are unable to see the message or images below, click here to view Shows Certification Advocacy Statistics International Membership Customized Briefing for manoj dole March 25, 2024 FEATURED INDUSTRY NEWS Early Bird Registration For The American Boating Congress Closes April 1 Early bird registration for the American Boating Congress (ABC) closes on April 1, 2024. This is your final chance to take advantage of discounted rates and secure your spot at our industry’s premier advocacy event. Read More LEADING ECONOMIC AND POLICY NEWS Fed Signals Possibility Of Rate Cuts To Prevent Rising Unemployment Bloomberg reports the Federal Reserve “is signaling a willingness to cut rates to head off a job-cutting spiral – even if that means somewhat higher inflation for a while....
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