Congressional leaders have reached a deal on a $1.1 trillion spending package to fund the government through Sept. 30, the end of the government’s fiscal year. The two parties suspended some of their biggest spending fights to avert a government shutdown. Congress must pass a funding measure before midnight Friday, when a partial shutdown would take effect. The package includes a $12.5 billion increase in defense spending and a $2 billion increase in funding for the National Institutes of Health, The deal also includes $1.5 billion for border security, with the money to be spent on technology and on repairing existing infrastructure, but excludes construction of a border wall. The agreement also leaves in funding for the Environmental Protection Agency and Planned Parenthood.
On that news the dollar is up 0.1% against the Japanese yen and flat against the euro due to the May Day holiday in Europe.
The Federal Reserve starts its two-day policy meeting tomorrow. It is scheduled to announce its decision on interest rates at 11 am Pacific time on Wednesday.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
