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Senate Approves Stopgap Funding Bill to Prevent Government Shutdown

In a dramatic turn of events, the U.S. Senate passed a six-month funding bill just hours before a potential government shutdown. The bill, which faced significant opposition from Democrats, was approved with a 54-46 vote. The legislation now heads to President Donald Trump's desk for final approval. The funding measure, often referred to as a continuing resolution (CR), was a contentious issue, with Democrats criticizing it for lacking input from their party and for falling short on key priorities like healthcare and housing assistance. However, Senate Minority Leader Chuck Schumer urged his colleagues to support the bill, emphasizing that a government shutdown would have far-reaching consequences. Despite internal divisions, some Democrats sided with Republicans to ensure the bill's passage, prioritizing the avoidance of a shutdown over their reservations about the legislation. The decision has sparked debates within the Democratic Party, with some members expressing frustrati...
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Effects on the Economy: Impact of Rising Interest Rates in Canada


Rising interest rates in Canada can have a significant impact on various aspects of the economy. Firstly, higher interest rates can lead to increased borrowing costs for businesses and individuals, making it more expensive to invest or make large purchases such as homes or vehicles. This can potentially slow down economic activity and reduce consumer spending, which is a key driver of growth.


 Additionally, rising interest rates can strengthen the Canadian dollar relative to other currencies, which can negatively affect export-oriented industries by making their products more expensive in foreign markets. Moreover, higher interest rates can attract foreign investors seeking higher returns on their investments, potentially leading to an inflow of foreign capital but also potentially making Canadian exports less competitive. Overall, while rising interest rates can help curb inflation and maintain the stability of the economy in the long run, their short-term impact may include slower economic growth, reduced consumer spending, and potential challenges for export-oriented sectors in Canada.






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