US Economy May Contract in Q4 if Government Shutdown Persists
NEC (U.S. National Economic Council) chair warns prolonged federal shutdown could push U.S. growth into negative territory for the fourth quarter.
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Terms & Concepts
NEC (U.S. National Economic Council): A U.S. government body that advises the President on economic policy and coordinates policy-making across federal agencies.
Government Shutdown: A closure of non-essential federal services due to a lapse in funding, typically caused by political deadlock on budget legislation.