The United States Congress now has less than two weeks left to pass a bill to keep the government running.
Under the Anti-Deficiency Act, federal agencies cannot spend any money without an appropriation or approval from Congress.
When Congress fails to pass 12 annual appropriations bills, federal agencies must cease all functions in government until Congress acts.
This is known as a 'government shutdown'. It happened in 2018 during the administration of former President Donald Trump.
Given the current situation, House Republicans are now struggling to reach an agreement on a defense spending bill before the end of the month.
In fact, there are some Republicans who have threatened to remove House Speaker Kevin McCarthy from his post if he does not comply with their demands.
In the event of a US government shutdown, the Bureau of Labor Statistics said it would stop releasing data, including key reports on inflation and unemployment.
The lack of important government data certainly impacts the Federal Reserve (Fed) in assessing the current health of the US economy and makes it difficult to carry out its duties.
