Overview

• President Donald Trump met congressional leaders at the White House on Monday, but Vice President J.D. Vance said the negotiations failed and the country is heading toward a funding lapse at midnight Tuesday.
• Republicans are pushing a seven‑week stopgap measure to fund the government through late November, while Democrats insist on restoring hundreds of billions of dollars for health care programs including Obamacare.
• An OMB memo from director Russell Vought told federal agencies to prepare workforce‑reduction plans and warned some layoffs after a funding lapse could be permanent.
• If funding expires, most federal services would halt, with hundreds of thousands of employees furloughed, air travel disruptions likely, and payments for many social benefits delayed.
• Analysts reported early market jitters tied to the standoff, with the dollar falling and gold reaching record levels as investors brace for potential economic fallout.