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OMB Director-'Not Optimistic' On Deal To Avert Partial Shutdown
Speaking to reporters at a Christian Science Monitor event, Director of the Office of Management and Budget Shalanda Young, says that on the topic of avoiding a partial gov't shutdown "I wouldn't say pessimistic but I'm not optimistic," that a deal can be reached by the 19 Jan deadline. For the latest updates on Congressional wrangling over the looming shutdown please see our latest US Daily Brief here.
- Bloomberg:"Young [...] and said more conservative Republicans were demanding a shutdown. “The rhetoric concerns me,” she added. “While leadership understands this is a bad path, can they hold back the floodgates?"
- Bloomberg: "The speaker is seeking direct talks with Biden on Ukraine aid and border policy, an idea Young appeared cool to on Friday. “There are have been talks for weeks,” she said. “This is not serious...It’s a long trip to the White House for something that can be done right next door,” Young said, urging Johnson to get involved in discussions on the Senate side."
- Asked about whether the White House is willing to alter the side deal [on IRS cuts] , Young said “the leaders are talking.” “I won’t get ahead of what they are discussing,” she said."
- The prospect of two partial shutdowns in a short period of time (the second deadline is 2 Feb) remains a real possibility, especially given theshrinking Republican majorityin the House that leavers Speaker Mike Johnson (R-LA) vulnerable to outliers on the populist wing of the GOP.
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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.