Heads up, young pros: the US is once again flirting with a government shutdown in 2025 — that means serious ripple effects for global markets and everyday folks. 💥
At its core, budget fights between Republicans and Democrats over fiscal policy, healthcare, and social programs have led to a deadlock. No deal means no budget, so key government services could pause, and hundreds of thousands of federal workers may be furloughed. That saps business and consumer confidence across the board. 😓
What's new this time? Former President Trump teased permanently cutting federal jobs if the shutdown happens — a move that public policy analysts at Barclays, like Michael McLean, say could add extra uncertainty compared to past shutdowns.
Meanwhile, America’s labor market is showing signs of fatigue: payroll growth has slowed to under 30,000 jobs per month this summer, and Fed Chair Jerome Powell warns that job worries may now outweigh inflation fears. 📉
For global-savvy readers from Karachi to Jakarta, keep an eye on this saga: from tech supply chains to market vibes, a US shutdown could send shockwaves through emerging economies. Stay informed, and let’s see how policymakers navigate this maze! 🌐✨
Reference(s):
cgtn.com
