Economy

Two sides seen moving toward an agreement to extend U.S. borrowing authority.

Two sides seen moving toward an agreement to extend U.S. borrowing authority.

Treasury would cut other government spending to meet interest payments on debt.

Each day of closures causes $160 million in lost economic output, IHS estimates.

Fund also warns that a U.S. default could seriously damage world economy.

Fund also warns that a U.S. default could seriously damage world economy.