

Government Shutdown Takes Effect, White House Pulls Antoni BLS Nomination
12 snips Oct 1, 2025
The US government is facing its first shutdown in almost seven years, impacting hundreds of thousands of federal workers. With losses estimated at $400 million a day, critical economic reports are on hold, leaving traders anxious about monetary policy. Meanwhile, the White House's unexpected withdrawal of EJ Antoni's nomination to lead the Bureau of Labor Statistics adds to concerns over essential data leadership. The podcast delves into the implications of these events and the political dynamics at play.
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Shutdown Triggered By Senate Deadlock
- Congress missed the midnight funding deadline, triggering a government shutdown for the first time in nearly seven years.
- Senate leaders traded blame as both parties remained deadlocked over attaching policy changes to funding.
Furloughs Could Raise Unemployment
- The CBO estimates about 750,000 federal employees will be furloughed each day the shutdown lasts.
- Bloomberg Economics warns the unemployment rate could rise if furloughed workers count as temporarily unemployed.
Data Gaps Cloud Market Outlook
- Markets worry missing economic reports will darken visibility into the economy and Fed policy.
- Traders fear delayed jobless claims and the monthly payrolls report will hinder rate outlooks.