Lawmakers need to reach a deal by 11:59 p.m. "If the shutdown lasts for a month or more, the Fed would essentially be flying blind at its November meeting, having learned very little about economic activity and price pressures since the September meeting," Bank of America U.S. That could handicap the Federal Reserve at its next policy meeting. It may also further hurt consumer confidence and slow the economy. But, it could delay the release of key economic data, such as inflation figures. A government shutdown is not likely to hurt financial markets. "And I think that overall nervousness is something that will keep that headwind going." Potential government shutdown Investors are growing worried an agreement to avoid a shutdown is unlikely with just a little over a week left to go before the end of the fiscal year in Washington. " "I'm not saying that we could hit that 45 but there is historical precedent for it," she added. The last time there was a debt ceiling debate in 2011, VIX went to 45, so we're under a 20 handle right now," RBC's Amy Wu Silverman said Friday on CNBC's " Squawk Box. "We have the strike, we have the geopolitics, we have the debt ceiling. Wolfe Research's Rob Ginsberg pointed out in a note this week that the CBOE Volatility Index (VIX) doesn't suggest much fear in markets.VIX YTD mountain VIX The VIX, a popular measure of fear, was last at a 17 handle - below its long-term average of about 20 - despite labor strikes in the auto industry, a possible government shutdown and rising Treasury yields. However, market participants worry that stocks have further to fall. All three major averages are headed for losses this month, with the tech-heavy Nasdaq Composite sliding by more than 5% - though the index does remain 26% higher this year. The S & P 500 and Dow Jones Industrial Average are also down about 4% and 2%, respectively. Headwinds are piling up for the market heading into the final week of the month, as September lives up to its reputation as a horrible month for Wall Street. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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