Shutdown is shaking confidence: US Commerce Secretary
U.S. Commerce Secretary Penny Pritzker has warned that the ongoing government shutdown is hitting business confidence, but insisted that the situation would be short lived.
Speaking to CNBC on Wednesday, Pritzker said the leadership in Congress appreciated the need to address the situation. The U.S. government is currently in partial shutdown because of a failure to reach agreement over the budget.
(Read more: Obsessed withshutdown, markets forget earnings)
"Business confidence gets really shaken when you've got uncertainly about government operations, but I'm convinced this is going to resolve itself relatively quickly," she said. "I'm hopeful this is not going to go on and be a long-term challenge for confidence."
The pressure is on for the Democrats and Republicans to agree on a budget and debt ceiling limit before the October 17 deadline, after which it cannot borrow more money to fund its operations.
(Read more: US will reach solution on shutdown: ECB's Asmussen)
But Pritzker stressed that there was not much difference in terms of the parties' budget projections.
"I'm optimistic they will resolve their differences because they are relatively close. The president has said he is willing to negotiate," she said.
"The leaders in Congress know what they need to do… I am confident that they will do what they have to do in the time they need to do it."