Stock market is a wild card in fiscal cliff talks
Welch said a similar market meltdown next month, in the event of a fiscal cliff impasse, ‘‘is what will force members of Congress eventually to act.’’
Few lawmakers in either party are eager to predict how the stocks and bonds markets would react to a failure to reach a fiscal cliff accord by year’s end.
‘‘Let’s not pretend the markets fully understand the politicians, or the politicians fully understand the markets,’’ said Rep. George Miller, D-Calif., who has served in Congress for 37 years.
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