Asking about expectations for House vote on funding bill
Brian
Joe Lavorgna
Expects House to pass continuing resolution, Democrats provided needed votes, shutdown caused economic damage to current quarter GDP
What reopening means for macro economy - better or worse?
Brian
Joe Lavorgna
Interest rates are too high and still restrictive, missing economic data impinges policy making, economy robust at 4% growth excluding federal sector
Concern this is temporary patch and shutdown could recur in months
Brian
Joe Lavorgna
Does not expect another shutdown in January, some government parts funded for full fiscal year, gives time for negotiation
Parties far apart on spending with Democrats asking for $1.5 trillion
Brian
Joe Lavorgna
Important to control spending, federal spending down year-on-year, lowering interest rates will increase affordability for home buying