04:19:14 EDT Sat 11 May 2024
Enter Symbol
or Name
USA
CA



Goldman Sachs CDR (CAD Hedged)
Symbol GS
Shares Issued 400,000
Close 2023-09-11 C$ 16.52
Market Cap C$ 6,608,000
Recent Sedar Documents

Globe/wire say Goldman warns on U.S. gov't shutdown

2023-09-12 09:09 ET - In the News

The Globe and Mail reports in its Tuesday edition that Goldman Sachs says a potential U.S. government shutdown at the end of September could add to worries about the economy. A Reuters dispatch to The Globe reports that current funding for most government programs expires on Sept. 30. If lawmakers are unable to pass a new budget by then, large swaths of government functions would shut down, an event analysts at Goldman Sachs estimate would reduce U.S. economic growth by 0.2 per cent for each week it lasted. A partial closing of the government, which will not interfere with essential functions such as the military or Social Security payments, is not seen to be as toxic to the economy as a failure to increase the government's debt limit. Past shutdowns' impact on U.S. stocks, meanwhile, has been slight, says CFRA Research. Investors might be more sensitive to a shutdown this time around, however. Failure to pass a budget would highlight the gridlock and political instability that ratings agency Fitch cited as a reason for its downgrade of the U.S. credit rating in August, a move that roiled markets last month. At the same time, a shutdown could lead to spending cuts that may dampen the economy.

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