The federal government is less than two days away from a shutdown. Senate Majority Leader Mitch McConnell and Minority Leader Chuck Schumer are reportedly close to a budget deal, but not everyone is excited about it. The deal would extend budget limits for defense and domestic spending, but does not include a solution to DACA, which many Democrats have said will need to be a part of any long-term budget deal.
House Minority Leader Nancy Pelosi is one of the Democrats who have said a budget deal must be tied to a solution on immigration. Despite her stance, Jack Holmes, Associate Editor at Esquire, says he doesn't believe the government will shut down at all.
The White House budget office says mass firings of federal workers have started in an attempt to exert more pressure on Democratic lawmakers as the government shutdown continues.
President Donald Trump says “there seems to be no reason” to meet with Chinese leader Xi Jinping as part of an upcoming trip to South Korea after China restricted exports of rare earths needed for American industry. The Republican president suggested Friday he was looking at a “massive increase” of import taxes on Chinese products in response to Xi’s moves. Trump says one of the policies the U.S. is calculating is "a massive increase of Tariffs on Chinese products coming into the United States." A monthslong calm on Wall Street was shattered, with U.S. stocks falling on the news. The Chinese Embassy in Washington hasn't responded to an Associated Press request for comment.
Most members of the Federal Reserve’s interest-rate setting committee supported further reductions to its key interest rate this year, minutes from last month’s meeting showed.
From Wall Street trading floors to the Federal Reserve to economists sipping coffee in their home offices, the first Friday morning of the month typically brings a quiet hush around 8:30 a.m. eastern, as everyone awaits the Labor Department’s monthly jobs report.
The Supreme Court is allowing Lisa Cook to remain as a Federal Reserve governor for now.
Rep. John Moolenaar has requested an urgent briefing from the White House after Trump supported a deal giving Americans a majority stake in TikTok.
