Federal Govt Re-Opens For 3 Weeks – President Threatens ‘National Emergency’ If No Wall Funding

President Trump has announced a tentative deal to re-open the federal government for three weeks, until Feb 15th. Here are the details…

from Zero Hedge

Update 3 (2:20 pm ET): Trump has announced a tentative deal to reopen the government for 3 weeks until Feb. 15.

  • TRUMP: AS EVERYBODY KNOWS, I HAVE “VERY POWERFUL ALTERNATIVE”
  • TRUMP SAYS HE WILL SIGN BILL TO OPEN GOVERNMENT FOR 3 WEEKS
  • TRUMP SAYS HE WILL MAKE SURE WORKERS GET THEIR PAY QUICKLY
  • TRUMP SAYS DEAL REACHED TO END SHUTDOWN
  • TRUMP SAYS HE HAS POWERFUL ALTERNATIVE, HOPES WON’T BE NEEDED
  • TRUMP EXPECTS HOMELAND SECURITY PACKAGE TO BE SIGNED SOON

Trump is leaving his options open to call a national emergency to build the wall if no deal is reached. He also said he would look at border technology including drones. Furthermore, the wall won’t be a “medieval” wall but will be a “see-through steel” “smart wall” built in “preidentified strategic areas” with features like see-through visibility.

“If we don’t get a fair deal from Congress, the government will either shut down on Feb. 15 again, or I will use the emergency powers…to address this emergency. We will have great security,” Trump said.

Stocks are moving lower on the confirmation…

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Update 2 (1:08 pm ET): Five minutes after Trump was set to begin speaking, Press Secretary Sarah Sanders tweeted that the event has been pushed back to 1:30 pm ET.

Fox is reporting that the temporary bill will leave government open until Feb. 15. If no deal is reached by then, a national emergency order to circumvent Congress and build the wall is expected.

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Update (12:55 pm ET): As White House aides scramble to set up the Rose Garden, President Trump is expected to announce his support for a bill to temporarily reopen the government.

 

At long last, the government shutdown, now in its 35th day, may finally be coming to an end.

According to the Drudge Report, President Trump is planning to announce that a deal has been reached to temporarily reopen the federal government during a hastily organized 1 pm press conference set to take place in the Rose Garden. The press conference was announced mere minutes before Drudge broke the news about the announcement, and follows a hint from Sen. Tim Kaine from earlier on Friday that a breakthrough might finally be imminent.

CBS and the Atlantic have confirmed that Trump is expected to endorse a short-term bill to reopen the government.

 

Reporters say the Rose Garden is being set up for a “full blown presidential announcement…complete with teleprompter.”

Reports on Twitter stressed that the government would reopen “temporarily”. The agreement comes after the FAA temporarily suspendedflights taking off for La Guardia Airport in NYC  and 800,000 government workers missed their second paycheck.

USDJPY is rallying on the news now that several sources have confirmed, though the exact length of the measure isn’t yet clear, though CBS said the temporary measure would open the government for “a few weeks.” We have yet to see much of a reaction in stocks.