Instability in Washington causes uncertainty on Wall Street
Instability in Washington causes uncertainty on Wall Street
Senate leaders say they’re close to a deal that would re-open the government and raise the debt ceiling. But there’s still some horse trading going on. Some of it does involve nips and tucks to President Obama’s health care reform law. And there’s a developing scenario where the Senate would agree to lift the federal limit on borrowing until early next year. One Republican lawmaker says the House would accept the Senate time frame.
But if revisiting the debt ceiling soon is a component of the resolution, what does that mean to the economy? Juli Niemann, analyst at Smith Moore and Company in St. Louis, says all the squabling on Capitol Hill is making consumers and business owners hesistant to spend — and that could cause recession-like circumstances.
Stories You Might Like
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
