{"id":68536,"date":"2023-10-04T05:07:45","date_gmt":"2023-10-04T09:07:45","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/what-mccarthys-ouster-as-house-speaker-means-for-government-shutdown-odds\/"},"modified":"2023-10-04T05:07:48","modified_gmt":"2023-10-04T09:07:48","slug":"what-mccarthys-ouster-as-house-speaker-means-for-government-shutdown-odds","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=68536","title":{"rendered":"What McCarthy&#8217;s Ouster as House Speaker Means for Government Shutdown Odds"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000760478\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<p>        <!-- eventually when we know what this card will be we can change it and leave this one --><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>The historic ouster of Kevin McCarthy as House speaker raises the odds of a government shutdown later in the quarter, according to Goldman Sachs analysts.<\/p>\n<p>Congress passed a last-minute stopgap funding bill over the weekend, buying another 45 days to reach a deal on government funding for the next year. While the measure removed the immediate risk of a shutdown, McCarthy\u2019s removal Tuesday and the need for a new House leader suddenly makes 45 days seem like no time at all. And the clock is already ticking.<\/p>\n<div class=\"paywall\">\n<p>The \u201cleadership vacuum\u201d makes a shutdown next month more likely, Goldman analysts led by Jan Hatzius said in a note.<\/p>\n<p>\u201cWith many policy disputes remaining and a $120 billion difference between the parties on the preferred spending level for fiscal year 2024, it is difficult to see how Congress can pass the 12 necessary full-year spending bills before funding expires on Nov. 17,\u201d Hatzius said.<\/p>\n<p>He added that the next speaker is likely to be \u201cunder even more pressure\u201d than McCarthy to avoid another temporary extension or more funding for Ukraine.<\/p>\n<p>However, he noted that even if a new House speaker wasn\u2019t in place by the middle of next month, another temporary funding extension could still be passed.\u00a0<\/p>\n<p>Goldman\u2019s base case is for a shutdown in the fourth quarter, but that a prolonged shutdown\u2014more than three weeks\u2014is unlikely.<\/p>\n<p>The search for new a new speaker of the House will eat into the funding extension time. It doesn\u2019t mean a shutdown is a sure thing come Nov.17, but it\u2019s far from ideal.<\/p>\n<p>Write to Callum Keown at callum.keown@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/kevin-mccarthy-ouster-government-shutdown-eeaec74b?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The historic ouster of Kevin McCarthy as House speaker raises the odds of a government shutdown later in the quarter, according to Goldman Sachs analysts. Congress passed a last-minute stopgap funding bill over the weekend, buying another 45 days to reach a deal on government funding for the next year. While the measure removed the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":68537,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-68536","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What McCarthy&#039;s Ouster as House Speaker Means for Government Shutdown Odds | iFintechWorld<\/title>\n<meta name=\"description\" content=\"The historic ouster of Kevin McCarthy as House speaker raises the odds of a government shutdown later in the quarter, according to Goldman Sachs analysts.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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