As the federal government shutdown in the United States enters its 35th day, the deadlock in Congress is increasing tensions in the economy and financial markets. The shutdown is expected to extend to a 36th day due to a lack of agreement between Democrats and Republicans, surpassing the 35-day record set during Donald Trump’s 2018-2019 term.
Republicans are proposing a short-term budget extension (Continuing Resolution, or CR) for fiscal year 2025. This bill aims to provide a permanent budget deal until November 2026. While Republicans argue that certain subsidies are “no longer necessary,” Senate Majority Leader John Thune and House Speaker Mike Johnson have expressed openness to discussing a reformed version of these subsidies, though they oppose including them in the current budget proposal.
### BLS Won’t Release New Report Until Government Reopens
U.S. Labor Secretary Julie Dremer stated that the shutdown has directly impacted employment data reporting. The Bureau of Labor Statistics (BLS) reports cannot be released until the government reopens. This means investors and analysts are currently denied access to critical economic indicators such as nonfarm payrolls, the unemployment rate, and wage growth.
This lack of data makes it difficult to predict the Federal Reserve’s monetary policy decisions and leaves financial markets mired in uncertainty.
### Impact on the Cryptocurrency Market
Government shutdowns may also affect the cryptocurrency market, including Bitcoin, due to increased economic uncertainty and interruptions in the flow of important data.
*This is not investment advice.*
https://bitcoinethereumnews.com/bitcoin/next-fed-decision-in-the-us-becomes-increasingly-complicated-bls-wont-release-critical-data-will-this-affect-bitcoin/
