U.S. Department of Labor releases government shutdown contingency plan, suspending all operations during the shutdown

BlockBeats News, on September 29, the U.S. Bureau of Labor Statistics released its government shutdown contingency plan, announcing that all operations will be suspended and no economic data will be released during the government shutdown.

Currently, U.S. lawmakers are leaning toward forcing a federal government shutdown, which could prevent policymakers, business leaders, and investors from accessing key data needed to assess the state of the U.S. economy. Stephen Stanley, Chief Economist at Santander U.S. Capital Markets, stated that the next Federal Reserve meeting will be held from October 28 to 29, and without the latest government data, it will be difficult to justify another rate cut.

Some officials have already expressed caution, hoping to see more data. Neil Bradley, Chief Policy Officer of the U.S. Chamber of Commerce, said that a government shutdown will not push the U.S. economy into recession, but it will come at a cost and add to the uncertainty that businesses and business leaders are already dealing with. (Golden Ten Data)