Overview
- The partial federal shutdown has stretched into a fifth week with no funding agreement in Congress.
- New CBO scenarios project a permanent loss of $7 billion if the lapse ends within days, $11 billion if it lasts about six weeks to mid‑November, and $14 billion if it continues into late November, and it says fourth‑quarter growth could be trimmed by about 1–2%.
- The CBO reports roughly 650,000 federal employees are furloughed and about 600,000 are working without pay, disrupting services across agencies.
- Federal Reserve Chair Jerome Powell said the funding lapse is weighing on economic activity for now, while Treasury chief Scott Bessent has warned of potential daily losses of up to $15 billion.
- Vice President J.D. Vance said the administration expects to pay some service members on October 31 but not all, without specifying the funding source.