Upbeat mood following US govt shutdown talks

<p>An agreement on the US debt ceiling is yet to be reached.</p>

The mood is more upbeat in the US today (October 15th) after fresh talks on increasing the debt ceiling were deemed successful.

However, no agreement has been reached yet and some parties are still concerned the Thursday deadline is getting closer.

US president Barack Obama has warned that failing to raise the debt ceiling before the deadline could have a "devastating" impact on the state of the country's economy.

International Monetary Fund head Christine Lagarde has also stated this week that this would have a knock-on impact all over the world. In an interview with ABC's Meet the Press, she called for the debt ceiling to be increased as soon as possible.

Senate Democratic Majority Leader Harry Reid told the chamber on Monday evening: "We've made tremendous progress. He added: "We hope with good fortune… perhaps tomorrow will be a bright day. We're not there yet."

Republican Senate Minority Leader Mitch McConnell also spoke of "substantial" progress in the latest talks.

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