Capitalist Pig hedge fund manager Jonathan Hoenig reacts to the market sell-off after the Fed announced several rate cuts through 2025 on The Big Money Show.
House GOP leaders are scrambling to reach a deal to avoid a partial government shutdown before a Friday deadline, but experts say the shutdown may have little impact on the stock market — and may even help, given the circumstances.
The last-minute setback comes after the first bipartisan deal drew a barrage of criticism from environmentalists amid pressure from the incoming Trump administration to spend government money.
Stocks rose Thursday afternoon as investors weighed the Fed’s hawkish outlook and a possible government shutdown (Brendan McDermid/Reuters Images)
Financier and financial expert Eric Schiffer, chairman of The Patriarch Organization, says, “The government shutdown will not lead to a nuclear collapse of the markets, but it will cause temporary instability – but only for a few trading sessions as investors believe that President Trump will use his authority to succeed.” .”
Ted Jenkin, founder of oXYGen Financial, dismissed concerns that the shutdown could have a major impact on markets, telling FOX Business, “If there’s a bright light about the growing financial inefficiency on Capitol Hill, it’s because we have enough history. to show that a government shutdown has little impact on investors or financial markets.”
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Chris Markowski, founder of Markowski Investments, said in an interview that markets may be affected by the shutdown, depending on how long it lasts. But overall, closure concerns tend to abound.
Fox News reporter Chad Pergram reports on the latest news from Congress as lawmakers work to avoid a government shutdown.
“I think what’s happened in the last few days is amazing in the way that so many people have flooded the banks in DC to say enough is enough,” Markowski told FOX Business. “We didn’t vote for this. We have to stop spending stupid money.”
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Markowski said the foreclosures happen around Christmas time every year, and he says any other year, lawmakers would be home for the holidays by now. But this year, “You actually have taxpayers who are going backwards.”
Markowski believes that investors may be encouraged to shut down in the hope that the government may reduce spending, which will lead to stronger markets.
GOP-led House Republicans are working to strike a last-minute deal to avoid a government shutdown after bipartisan legislation was repealed following lobbying on the spending bill. (Julia Nikhinson/Bloomberg via / Getty Images)
He pointed out that one of the biggest items in the federal budget is interest on the national debt, which now exceeds 36 billion.
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“You can’t run a house like that. You can’t run a business like that,” he said, “That’s how we run our country at this time.”
“I’m sick and tired, frankly, as are most taxpayers,” Markowski said. “It’s not so much about paying our taxes – what we have to do – that they’re always being wasted.”
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