Senate Democratic Leader Chuck Schumer announced late Thursday that he is planning to vote to keep the government open as the Chamber is preparing to take over a draft law that stopped the Republican Party on Friday.
Main quotes
I think it is my job to take the best choice for the country, to reduce the harm of the American people to a minimum.
Therefore, I will vote to keep the government open, and do not close it.
While the Republican Law is very bad, the possibility of closing has consequences for America is much worse. Certainly, Republican Law is a terrible choice.
It is not a clean CR “or a continuous decision.
It is a deep partisan. It does not address many of the needs of this country, but I believe that allowing Donald Trump to take more power to close the government is a much worse option.
Trump took Spiotor to our country and practiced chaos like a weapon.
For Donald Trump, the closure will be a gift. It will be the best distraction he can ask for his terrible agenda.
Market reaction
At the time of the press, the US dollar index decreased by 0.03 % a day at 103.81.
Questions and answers in US dollars
The USD (USD) is the official currency of the United States of America, and a “reality” currency for a large number of other countries where there is a circulating alongside local notes. It is the most trading currency in the world, as it represents more than 88 % of the rotation of global foreign currencies, or on average $ 6.6 trillion in transactions per day, according to data from 2022. In the aftermath of World War II, the United States took over the British pound the world reserves. For most of its history, the US dollar was backed by gold, even the Bretton Woods agreement in 1971 when the golden standard went.
The most important individual factor that affects the value of the US dollar is the monetary policy, which is formed by the Federal Reserve (Fed). The Federal Reserve has two states: to achieve price stability (control of control) and enhance full employment. Its primary performance to achieve these two goals is to adjust interest rates. When prices rise very quickly and inflation is 2 % higher than the Federal Reserve goal, the Federal Reserve will raise rates, which helps the value of the dollar. When inflation decreases to less than 2 % or the unemployment rate is very high, the Federal Reserve may reduce interest rates, which weighs to green.
In maximum situations, the Federal Reserve can also print more dollars and quantitative mitigation (QE). QE is the process that the Federal Reserve increases significantly from the flow of credit in a suspended financial system. It is a measure of the non -standard policy used when the credit is dry because banks will not lend to each other (for fear of failing to pay the opposite end). It is the last resort when it is unlikely to achieve interest rates simply the necessary result. The Federal Reserve is the preferred to combat the credit crisis that occurred during the great financial crisis in 2008. It includes the printing of the Federal Reserve more dollars and their use to buy US government bonds mostly from financial institutions. QE usually leads to the weakest US dollar.
The quantitative tightening (QT) is the opposite process in which the Federal Reserve stops buying bonds from financial institutions and does not invest the manager from the bonds he holds in new purchases. It is usually positive for the US dollar.