"VIX" plunges significantly! The chief of the US National Economic Council said the US government is expected to end the shutdown within this week.
The US government has been shut down for 20 days, and Hassett, director of the US National Economic Council, said on Monday that he expects the shutdown to end this week.
The US government shutdown has entered its 20th day, with Kevin Hassett, the Director of the National Economic Council, stating on Monday that there is hope for an end to the shutdown within the week. Hassett said that his "friends" in the Senate believe that ending the government shutdown before the "No Kings" march would not look good for the Democratic Party, but now that the protest has ended, there may be a turning point this week.
Over the past weekend, people of different age groups across the United States took to the streets to participate in the "No Kings" protest, voicing their opposition to what they see as President Trump's authoritarian tendencies and unchecked corruption. Hassett pointed out that if the shutdown continues without resolution, the White House will consider further spending cuts to force negotiations.
He said, "We've heard from some moderates that they can't compromise before the 'No Kings' rally. If that doesn't pan out, the White House will have to carefully consider tougher measures with Budget Office Director Walt to pull the other party back to the negotiating table."
Following this announcement, the three major US stock indices rose, with the Nasdaq up over 1%, the S&P 500 up 0.8%, and the Dow up 0.6%. The "fear index" VIX also dropped nearly 8%.
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