‘There is not any motive we must be in a shutdown,’ Daines says
Sen. Steve Daines urged Democrats to approve a brief funding extension so the shutdown can finish and the 2 events can attain a long-term settlement.
“It will come to an finish,” the Montana Republican informed CNBC Wednesday morning. “However on this explicit case, it is going to come to an finish when 5 Democrats be a part of the remainder of us and move this non permanent extension.”
Daines mentioned negotiations over the appropriation course of had been “going very effectively” till Senate Minority Chief Chuck Schumer, D-N.Y., “determined to close issues down.” Schumer is “yielding” to the far-left aspect of his occasion in permitting a shutdown, Daines mentioned.
“There is not any motive we must be in a shutdown,” Daines mentioned. “It prices the taxpayer cash, it disrupts authorities companies, and on the finish of the day, it would not actually ship any political or coverage goal.”
— Alex Harring
Gold hits document as buyers search secure havens
FILE PHOTO: Twenty 4 karat gold bars are seen at the USA West Level Mint facility in West Level, New York June 5, 2013.
Shannon Stapleton | Reuters
Gold costs rallied to contemporary information Wednesday morning because the shutdown despatched buyers looking for safe-haven trades.
Spot gold was buying and selling at $3,893.06 early Wednesday morning. U.S. gold futures for December supply popped to $3,918.10, rising nearer to the carefully adopted $4,000 mark.
Gold futures, 1-day
Gold has lengthy been thought of a risk-off asset for buyers that may present refuge throughout occasions of financial and political turmoil.
— Alex Harring
Evercore ISI thinks shutdown will likely be ‘comparatively quick’
Evercore ISI strategist Sarah Bianchi would not count on an extended authorities shutdown after just a few Senate Democrats voted for a stopgap funding invoice final evening that finally fell wanting the required votes.
“Three Senate Democrats voted for the invoice tonight, offset by one Republican in opposition to. There are definitely 5 extra Senate Democrats who’re uncomfortable with shutdowns and won’t need this to go on very lengthy, particularly if the specter of federal employee layoffs turns into extra actual. Given this, and the truth that Republican leaders have already got expressed openness to negotiating on well being care, we expect the shutdown will likely be comparatively quick,” she wrote in a be aware.
— Fred Imbert
U.S. authorities shutdown may harm actual financial system, Milken Institute chief economist says
The Peace Monument, named Grief and Historical past, on the U.S. Capitol within the hours earlier than a partial authorities shutdown in Washington, D.C., U.S., September 30, 2025.
Jonathan Ernst | Reuters
William Lee, chief economist on the Milken Institute, famous this shutdown may have a better affect on the financial system than earlier ones.
“The historical past of shutdowns actually has had so little affect on the actual financial system as a result of basically, by the top of the shutdowns, every little thing goes again to the way in which it was,” he mentioned Wednesday in a “Worldwide Alternate” interview. “However this time there could also be some massive adjustments as a result of either side are being very strategic about it. The Republicans are saying, ‘it is a good time for us to implement the sort of adjustments Elon Musk put in place with DOGE.’ … The Democrats are actually bearing down and saying, ‘that is our flip to be strategic and get again the laws we need to put in place.”
He added that either side are enjoying extra “chess than checkers.”
— Fred Imbert
Inventory futures fall as U.S. authorities shuts down
U.S. inventory futures had been beneath stress Wednesday after lawmakers failed to succeed in a deal that will keep away from a authorities shutdown.
Futures tied to the Dow Jones Industrial Common dropped 241 factors, or 0.5%. S&P 500 futures shed 0.6% together with Nasdaq-100 futures.
— Fred Imbert
How the shutdown will have an effect on main financial reviews
An indication advertises a authorities shutdown reduction mortgage progaram exterior of the USA Senate Federal Credit score Union department workplace within the Hart Senate Workplace Constructing in Washington on Tuesday, September 30, 2025.
Invoice Clark | Cq-roll Name, Inc. | Getty Pictures
A shutdown may delay the discharge of key financial reviews that the federal government commonly publishes, that are carefully watched by monetary markets.
In a contingency plan launched Friday, the Labor Division mentioned that the Bureau of Labor Statistics, the company that produces the federal government reviews on the financial system, will “droop all operations” within the occasion of a shutdown.
“Financial information which might be scheduled to be launched through the lapse is not going to be launched,” the plan mentioned.
The following BLS employment report was set to be launched Friday. The BLS’s Client Worth Index studying for September is scheduled to be launched on Oct. 15.
Wells Fargo economist Michael Pugliese famous final week that after the final full authorities shutdown in 2013, the month-to-month jobs and shopper value index reviews “had been delayed by about two weeks.”
“Assortment, processing and publication delays stretched into the next month as effectively,” Pugliese famous.
Within the partial shutdown that started in late 2018, Pugliese famous, “the primary have a look at” gross home product progress for the fourth quarter of that 12 months “was delayed a couple of month, as was December 2018 information on retail gross sales and private revenue & spending.”
— Kevin Breuninger and Jeff Cox
European markets edge increased as U.S. authorities shutdown holds highlight
European markets had been barely increased throughout early morning offers, as international buyers monitor the U.S. authorities shutdown.
The pan-European Stoxx 600 index was up 0.1% shortly after the opening bell, with sectors and main bourses pointing in reverse instructions.
— Chloe Taylor, Tasmin Lockwood
Markets prone to shrug off shutdown affect, Aberdeen economist says
Market contributors are prone to brush off the affect of the federal government shutdown, in keeping with Luke Bartholomew, deputy chief economist at Aberdeen, significantly if it proves to be a short-term difficulty.
Requested whether or not buyers had been prone to take difficulty with the shutdown, Bartholomew replied: “In all probability not, to be sincere. I imply, if it was sure up with the debt ceiling difficulty as they’ve been previously then doubtlessly there’s dangers round that, however I might be stunned if the market would not finally shrug this off.”
Bartholomew conceded there are questions on information availability, with the carefully watched nonfarm payrolls report not anticipated to be launched on Friday due to the shutdown.
“Possibly that influences the Fed indirectly. Though they do have all kinds of different non-public sector information that they will depend on,” Bartholomew informed CNBC’s “Squawk Field Europe.”
— Sam Meredith
How Republicans and Democrats are blaming one another for the shutdown
Senate Minority Chief Charles Schumer, D-N.Y., proper, and Home Minority Chief Hakeem Jeffries, D-N.Y., conduct a information convention after a gathering with President Donald Trump, Speaker of the Home Mike Johnson, R-La., Vice President JD Vance, and Senate Majority Chief John Thune, R-S.D., about avoiding a shutdown forward of the deadline to fund the federal government, on the White Home on Monday, September 29, 2025.
Tom Williams | Cq-roll Name, Inc. | Getty Pictures
Republicans, who maintain the White Home and slim majorities in each chambers of Congress, wished to move a stopgap invoice to keep up funding at present ranges till late November. They wanted a minimum of seven Democrats to assist them within the Senate, the place 60 votes are required to beat the filibuster.
Senate Minority Chief Chuck Schumer, D-N.Y., and a gaggle of Democrats had beforehand joined Republicans in March to move a six-month extension of presidency funding.
However this time round, Democrats have united round a number of calls for, together with that any short-term funding invoice embrace an extension of enhanced Obamacare tax credit, that are as a consequence of lapse at 12 months’s finish. The improved subsidies cut back the prices of medical health insurance premiums for a wider swath of Inexpensive Care Act enrollees.
Republicans balked, accusing Democrats of holding the federal government hostage by standing in the way in which of continued federal funding until their health-care calls for are met.
GOP leaders have additionally argued that their “clear” persevering with decision is nonpartisan, and that coverage negotiations can proceed with out shutting down the federal government.
Democrats countered that the GOP proposal really is partisan, since Republicans are looking for to increase funding following the passage of a controversial spending invoice that narrowly handed in July over the objections of all congressional Democrats.
Democrats have additionally slammed Republicans for refusing to barter, and for leaving Washington, D.C., because the shutdown deadline approached.
Trump and different Republicans have additionally accused Democrats of looking for to offer health-care advantages to undocumented immigrants — a declare that Democrats reject as a lie, noting that federal legislation prohibits it.
— Kevin Breuninger
Trump: ‘We will do issues through the shutdown which might be irreversible’
The U.S. Capitol stands in Washington, D.C.
Bloomberg | Bloomberg | Getty Pictures
Whereas insisting that Republicans don’t need to shut the federal government down, Trump mentioned his administration may exploit the scenario to harm Democrats.
“We will do issues through the shutdown which might be irreversible, which might be unhealthy for [Democrats],” Trump mentioned on the White Home on Tuesday, “like reducing huge numbers of individuals out, reducing issues that they like, reducing packages that they like.”
That might embrace reducing “giant numbers of individuals” on authorities advantages, Trump mentioned, earlier than shortly including, “We do not need to try this, however we do not need fraud, waste and abuse.”
— Kevin Breuninger
‘Democrats Have Shutdown the Authorities’: White Home webpage says
The US Capitol in Washington, DC, US, on Tuesday, Sept. 30, 2025.
Graeme Sloan | Bloomberg | Getty Pictures
“Democrats Have Shutdown the Authorities,” a White Home webpage mentioned proper after midnight, that includes a clock detailing the time that has handed for the reason that shutdown started.
However California Gov. Gavin Newsom, a Democrat, mentioned on X, “Donald Trump simply shut down the federal government,” underscoring the truth that each events blame the opposite for the dramatic pause in federal companies and features.
Former Vice President Kamala Harris posted on X: “President Trump and Congressional Republicans simply shut down the federal government as a result of they refused to cease your well being care prices from rising. Let me be clear: Republicans are accountable for the White Home, Home, and Senate. That is their shutdown.”
— Dan Mangan, Riya Bhattacharjee
What number of staff could possibly be furloughed?
WASHINGTON, MARCH 4:
U.S. Capitol Police shut a safety gate alongside 1st Avenue Northeast on Capitol Hill in Washington, on March 4, 2025.
The Washington Publish | The Washington Publish | Getty Pictures
Over the past full authorities shutdown in 2013, about 850,000 federal workers had been furloughed, which means they had been required to take unpaid go away, in keeping with the Committee for a Accountable Federal Price range.
The Congressional Price range Workplace estimated Tuesday that the present shutdown would result in about 750,000 workers being furloughed.
“The whole each day value of their compensation could be roughly $400 million,” the CBO informed Sen. Joni Ernst, R-Iowa, in response to her request for data on the affect of a shutdown.
The company’s estimate famous that the variety of furloughed workers may range from everyday “as a result of some companies may furlough extra workers the longer a shutdown persists and others may recall some initially furloughed workers.”
Furloughed staff will get again pay upon their return.
However Trump’s Workplace of Administration and Price range has threatened to make a few of these job cuts everlasting, by warning federal companies in a current memo to organize for mass firings within the occasion of a shutdown.
— Kevin Breuninger
Authorities shutdown historical past: The longest was beneath Trump
U.S. President Donald Trump speaks within the Oval Workplace, on the day he indicators an government order on AI and pediatric most cancers analysis, on the White Home, Washington, D.C., U.S., Sept. 30, 2025.
Nathan Howard | Reuters
The complete shutdown started at midnight Wednesday after Democratic and Republican leaders did not agree on even a short-term deal to maintain the federal government totally funded previous the present fiscal 12 months.
It’s unclear simply how lengthy the shutdown will final, or how widespread its impacts will likely be.
The federal authorities has both shut down or skilled funding gaps 14 occasions since 1980.
The longest shutdown on document began in late 2018, when the federal government partially shuttered for about 5 weeks amid disputes over funding Trump’s proposed U.S.-Mexico border wall.
— Kevin Breuninger