The longest government shutdown in U.S. history has now entered its second month, creating an unprecedented challenge for economic analysis and monetary policy. The shutdown is estimated to reduce economic activity by $15 billion per week according to the Congressional Budget Office (CBO). Additionally, the Bureau of Labor Statistics (BLS), Bureau of Economic Analysis (BEA), U.S. Department of Labor and U.S. Census Bureau have suspended the collection and release of most key economic indicators — a development that significantly complicates the Federal Reserve’s already complex decision-making process.
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