A government shutdown in October would come at a particularly 'inopportune moment' for markets, one economist says. The shutdown could prevent the Federal Reserve from pivoting away from its tightening campaign this fall, causing uncertainty and potential impact on stocks. Additionally, a shutdown could bring pain to the slowly-growing U.S. economy.
But added uncertainty from the shutdown could prevent the Federal Reserve from pivoting away from its tightening campaign this fall, TD strategist Gennadiy GoldbergA shutdown in itself could bring pain to the slowly-growing U.S. economy: Goldman Sachs economists led by Jan Hatzius forecasted in June that a shutdown would knock off 0.2 percentage points from fourth-quarter gross domestic product for each week the government remains closed.
stocks’ broad rally amid an uninviting macro backdrop.Among the most prominent to dismiss Fitch’s announcement last week as little more than noise were hedge fund billionaire Daniel Loeb and former Treasury Secretary Larry Summers; Loebthe downgrade a “cry by Fitch for attention,” while Summers characterized the agency’s decision as “bizarre and inept.
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