October 1 marks the beginning of the new fiscal year in America. The White House faces a difficult task in reaching an agreement with Republicans in Congress to approve the budget. Many in this party do not agree with Biden’s policies and, as people say, “sharpen a grudge against him” and are waiting for the opportunity to undermine his career before the elections. Today, US Treasury Secretary Janet Yellen spoke out about this and expressed concern about the future of the country’s economy: “I see no signs that the US economy is entering a recession, but the failure of Congress to pass legislation to support the work of the government could lead to a slowdown in economic growth.”
If they do not agree, or the negotiations drag on for too long, then from October 1 the government and the Federal Reserve will be forced to suspend work. In general, one thing can be said: if the wolves are well-fed, then the sheep are safe, but this time everything is not so simple in the herd.
