Lawmakers are running out of time to prevent another partial shutdown of the U.S. government. Goldman Sachs’ chief economist, Jan Hatzius, predicts a shutdown lasting two to three weeks starting Oct. 1.
"A government shutdown this year has looked likely for several months, and we now think the odds have risen to 90%," said Hatzius.
Hatzius stated in a Wednesday note that despite the possibility of a last-minute deal, there hasn’t been significant progress nor ample time remaining, Fortune reported,
He believes that the shutdown could last several weeks due to the build-up of political pressure from delayed military pay dates and a decline in essential operations. A Nomura economics team supports Hatzius’s view, also suggesting a potential longer shutdown.
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Lawmakers’ only option to prevent a shutdown is passing a short-term funding extension, ...