Forget the shutdown. America’s real fiscal worry is rising bond yields
Watch Wall Street, not Washington
AMERICA’S CONGRESS is once again locked in a battle that could shut down the government—and once again the fight is a costly addition to the country’s economic problems. If Congress and the Biden administration do not strike a deal to fund the federal government, from October 1st it may need to furlough employees and freeze non-essential payments. House Republicans cannot even agree among themselves about what spending cuts to demand of the Senate and the White House, with hardliners seeking to sabotage a bipartisan deal struck in the summer.
This article appeared in the Leaders section of the print edition under the headline “Watch Wall Street, not Washington”
Leaders September 30th 2023
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From the September 30th 2023 edition
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