Senate Passes New Spending Bill

Congress moved one step closer early Friday to setting a major spending increase, following hours of drama on the Senate floor that led to the second partial government shutdown in less than a month.The Senate passed a short-term funding bill and cleared the way for a boost to military and domestic spending. Senators voted 71-28 to approve the deal, but the chamber failed to do so before the clock turned to Friday and government funding lapsed.Sen. Rand Paul, R-Ky., mounted hours of solo resistance to the budget deal over what he called reckless spending. He repeatedly objected to efforts by senators to quickly move to a vote on the agreement.

Source: Government shutdown news: Senate passes government funding bill – CNBC

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.