New York CNN —Corporate America is breathing a sigh of relief after lawmakers narrowly avoided a chaotic shutdown of the federal government. Business leaders and economists had warned a shutdown would have hurt the economy by causing vast uncertainty, significant disruptions and hurting confidence. But then House Speaker Kevin McCarthy abruptly shifted course and moved to pass a bill with support from Democrats. The Chamber commended lawmakers who voted to keep the government open on a bipartisan basis and called for Congress to finish the job. Gardner noted that there will likely be a move to remove McCarthy as speaker and another potential budget standoff ahead of November 17.

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Persons: brinksmanship, ’, Kevin McCarthy, Joe Biden, “, Joshua Bolten, ” Bolten, ”, Brian Gardner, Stifel’s, Gardner, McCarthy, ” Gardner Organizations: New, New York CNN — Corporate, Business, US Chamber of Commerce, Senate Locations: New York, American, Ukraine, Washington —, Washington