Second US Government Shutdown Underway

U.S. government funding lapsed Friday as Congress’ efforts to pass a spending bill fizzled out in the Senate for the second time in less than a month.Despite bipartisan support for a massive budget agreement, Congress failed to approve a funding plan before the midnight Thursday deadline. It is just the latest example of gridlock on Capitol Hill during the current GOP-controlled Congress.In this case, Sen. Rand Paul, R-Ky., blocked repeated moves to vote on the measure over concerns about massive spending increases contained in the budget deal. Paul called the spending reckless and pushed for a vote on an amendment to reinstate budget caps, which Senate leadership did not allow.

Source: Government shutdown starts as Congress fails to pass spending bill – CNBC

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Former Craig

Former Craig

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.