White House Budget Director Young Says Government Shutdown Estimated To Hit GDP 0.1-0.2%, Could Be Made Up Next Quarter; Says Expect To See An Uptick In Biden's Dialogue With Congress
Portfolio Pulse from Benzinga Newsdesk
White House Budget Director Young estimates that the government shutdown will impact GDP by 0.1-0.2%, but expects this to be made up in the next quarter. An uptick in Biden's dialogue with Congress is also expected.
September 29, 2023 | 5:11 pm
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NEGATIVE IMPACT
The government shutdown could negatively impact the overall market, represented by SPY, in the short term. However, the expected recovery in the next quarter and increased dialogue between Biden and Congress could stabilize the market.
The government shutdown directly impacts the economy, which in turn affects the overall market. As SPY is a representation of the market, it is likely to be impacted in the short term. However, the expected recovery in the next quarter and increased dialogue between Biden and Congress could mitigate this impact.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75