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US Shutdown Hits Day Ten as Government Stalemate Continues
Government Shutdown Impact - US government shutdown enters its 10th day, leading to potential missed paychecks for government workers [1] - Senate adjourns until Tuesday, one day before potential missed military paychecks on October 15th [3] - Bloomberg Economics analysts project US unemployment rate could rise from 43% to 47% if shutdown extends into a third week [4] - Approximately 750000 federal workers are expected to be furloughed during the shutdown [4] Political Standoff - Congressional leaders remain at a stalemate with President Trump threatening cuts [1] - Republicans are firm on not negotiating until the government reopens [2] - Informal bipartisan talks are occurring regarding potential structural reforms to the Affordable Care Act, including premium subsidies and income limits [2] - Leadership states no changes will be discussed until the government reopens [3] Economic Data Delay - US Bureau of Labor Statistics is recalling employees to prepare the September CPI report [4] - It is unlikely the September CPI report will meet its original deadline next Wednesday, but is expected before the next FOMC meeting at the end of the month [4]