Free Trial

Johnson Says "We're Going To Prevent Shutdown" Ahead Of White House Meeting

US

House Speaker Mike Johnson (R-LA) has expressed confidence that Congress will avert a government shutdown on Saturday ahead a key White House meeting with President Biden and the four leaders of Congress.

  • Johnson told Fox News: "We're going to prevent the shutdown. We're working on it."
  • According to Reuters, Biden said ahead of the meeting: "Need to find solution on funding government, think we can do that... [a] shutdown would damage the economy."
  • Biden also hinted at Ukraine funding, the other major item on the agenda today: "Need to fund Ukraine. situation is dire."
  • With a partial government shutdown set to occur a midnight Friday, Congressional leaders will likely need to release FY2024 legislation today to provide enough time for Congress to act. If the legislation isn't forthcoming today, another short time funding patch (Continuing Resolution) will be required to punt the deadline into March.
  • Senate Majority Leader Chuck Schumer (D-NY) and Speaker Johnson struck a deal on topline spending numbers in January, but as has been the case throughout this Congress, the speaker must balance bipartisan agreements with a hardline conservative faction in the House.
  • More analysis in today's edition of theMNI US Daily Brief.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.