The 20-day US federal government shutdown is likely to end this week, White House economic adviser Kevin Hassett said on Monday. "I think the Schumer shutdown is likely to end this week," White House economic adviser Kevin Hassett said in an interview on CNBC, referring to Senate Democratic leader Chuck Schumer. Hassett, director of the National Economic Council, said his "friends in the Senate" believe it was "bad optics for Democrats to open the government before the 'No Kings' protests, and that now there's a chance things will improve this week." Protesters of all ages took to the...
U.S. President Donald Trump said Monday he expects to reach a "fair trade deal" with Chinese President Xi Jinping and downplayed fears of conflict over Taiwan, even as tensions linger. Trump told reporters he did not believe China intended to invade Taiwan but acknowledged the issue would likely come up during their meeting next week on the sidelines of an economic conference in South Korea. However, U.S. Trade Representative Jamieson Greer struck a tougher tone later in the day, accusing Beijing of a "broader pattern of economic coercion" against companies making strategic investments in...
The U.S. government shut down much of its operations on October 1 after Republicans and Democrats failed to reach an agreement to extend funding past the end of the federal fiscal year on September 30. The closure has shut off the flow of key economic data at a moment of uncertainty among policymakers and investors about the health of the U.S. job market, the trajectory of inflation and the strength of consumer spending and business investment. The federal agencies responsible for indicators of U.S. economic activity, including the Bureau of Labor Statistics, Bureau of Economic Analysis...