Canada Official Says U.S. Budget Issue to Dominate G-20
The budget standoff in the U.S. will probably dominate discussions of Group of 20 finance ministers in Washington later this week, a Canadian official said.
The official, who spoke to reporters on condition they not be identified, said a lack of resolution by U.S. lawmakers is a key risk to the global economy in part because it poses risks of disruptions to financial markets including currencies. An impasse on the U.S. debt ceiling is a bigger issue than the government shutdown, the official said.
Proposed plans by the Federal Reserve to trim its asset-purchase program would probably be good news for the global and Canadian economies because it would signal stronger growth in the U.S., the official said.
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