Week ahead: Clock ticks down on funding deadline

The pope’s visit will dominate Washington, but Republican leaders will be scrambling to find a way to pass a government funding bill by month’s end.

There are few legislative days left for lawmakers to act, and the House is in recess this week. Pope Francis is set to arrive on Tuesday and on Wednesday will visit the White House. On Thursday, he will speak before a joint session of Congress.

Conservative Republicans say they’ll oppose any funding bill that includes money for Planned Parenthood following the controversy over the group’s handling of fetal tissue, leaving leaders in a jam.

{mosads}The House on Friday passed a separate measure to defund the healthcare group for one year, and the Senate may also take up a similar vote next week.

But Senate Majority Leader Mitch McConnell (R-Ky.) has said it isn’t possible to defund Planned Parenthood in a must-pass spending bill. GOP leaders want to avoid a potentially politically damaging shutdown with the presidential election looming next year.

Elsewhere, Federal Reserve Chairwoman Janet Yellen will speak at the University of Massachusetts Amherst. The title of her speech is Inflation Dynamics and Monetary Policy, according to the Federal Reserve.

Yellen’s speech comes amid much uncertainty among economists about the timing of an interest rate increase.

Fed policymakers have kept the interest rate at zero percent since the economic collapse in an effort to boost economic growth, and decided again this week to hold rates steady. But many on Wall Street said that the central bank was not clear in its message, and are calling for more clarity.

Abroad, global markets will be closely watching the results of Sunday’s Greek parliamentary elections. It’s the third vote this year for the country, which is struggling with an economic crisis that threatens to reverberate across Europe.

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