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Markets fret over the shutdown and debt ceiling
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The government shutdown continues after Congress failed to reach an agreement over a spending bill Monday night. But now there’s a greater worry about the debt ceiling, the deadline for which U.S. Treasury Secretary Jack Lew says will continue to stay October 17.
David Kelly, Chief Global Strategist at JPMorgan Funds, says markets hate uncertainty and that will weigh on the stock market. He says globally, many economies are growing at the same time, which makes the situation even worse.
“It’s tremendously frustrating that the biggest obstacle right now to stronger U.S. growth is what’s happening in Washington,” he says.
David Kelly, Chief Global Strategist at JPMorgan Funds, joins Marketplace’s Mark Garrison to discuss. Click the audio player above to hear more.