U. S Government Shutdown Threatens Release of Economic Data

A government shutdown threatens to postpone the release of a variety of U.S economic data, depriving markets, companies, and also policymakers of crucial information on which to base their decisions at home and abroad. Previous shutdowns have shown that crucial reports such as the monthly employment report from the labor department and also a key inflation index from the Commerce department will be delayed. Information such as jobs report and others have been delayed because of the government shutdown in 2013.

In the case of a shutdown, the Bureau of Labor Statistics, which is part of the labor department and produces the employment report and statistics on consumer prices, will suspend data collection, processing, and dissemination on the first of October. The United States government is likely to shut down because conservative House Republicans are planning to reject a funding extension due to the ideological split. A shutdown might linger for weeks, which could make the Federal Reserve's decision on the 31st of October and the 1st of November much more difficult.

Here's what the American president Joe Bond has said on the looming shutdown due to the deadlock in the U.S Congress:

"Look, they're playing magnomics is more extreme than anything America has ever seen before. Just months ago, they went further than anyone has ever gone, threatening to default on the debt that's over 220 years old if we didn't give them everything they wanted. We gave them nothing they wanted. He gave another winner; we got a deal. But up to now, Republicans have given us a failed plan, a trickle-down economics. It didn't work. My guess is your story is just like mine, not much trickled down, ended up helping y'all instead. Here's what trickle-down economics did: it shipped jobs overseas."

The data from September will be included in the bulk of the reports coming in next month, capping off what should have been a robust quarter for the U.S. economy. How the Fed acts will have a major impact on the situation. The Fed Chair Jerome Powell and his colleagues have repeatedly said that they'll rely on economic data from the outside world to guide their policy choices. Although it seems likely that the central bank will keep interest rates unchanged at its meeting next week, what will happen in November remains very uncertain.

Today's story takes this opportunity to speak closely for us and the centers this book isn't it foreign who has built his presidency around pandering to labor unions launched his 2020 presidential campaign by saying, "I make no apologies; I am a union man, period." Recently, he also said that he's the most pro-union president in the most pro-union administration in U.S. history. In return for his pledged loyalty, labor unions around the country donated generously to his 2020 presidential campaign, some 27 million dollars in total, ushering him into the Oval Office. Now they expect that kind of loyalty in return as automakers are on strike as we speak.

Given the ripple effect on the nation's economy and the auto industry, the longer this strike continues, the longer Biden's image as the union guy goes under question as well. So will the president have to pick and choose sides between labor unions and the U.S. economy? That's the question many are asking.

Published on September 16, 2023