Overview

• Lawmakers failed to reach a short-term funding deal, shutting parts of the federal government at midnight and halting many agency services while contractors face unpaid losses.
• Hundreds of thousands of employees are furloughed or working without pay, and the Congressional Budget Office estimates roughly 750,000 workers are idled each day the shutdown persists.
• The Labor Department will not publish Friday’s jobs report, and Commerce’s Bureau of Economic Analysis and Census Bureau are pausing most operations, creating a broad economic data void.
• Wall Street strategists say the data gap increases the odds of a risk‑management rate cut at the Fed’s Oct. 29 meeting, though some expect policymakers could hold if fresh readings arrive before then.
• President Donald Trump has threatened permanent reductions in federal payrolls — dubbed “DOGE 2.0” by some commentators — a departure from past shutdowns that economists warn could intensify labor‑market and political repercussions.