The probability of a "US Government Shutdown" is now at 70% on Kalshi

BlockBeats News, September 30th, according to the prediction platform Kalshi, there is a 70% chance of a government shutdown in the United States on Wednesday.

Earlier today, the U.S. Bureau of Labor Statistics released a government shutdown contingency plan, which will halt all operations and not release economic data during the shutdown.

Currently, U.S. lawmakers are leaning towards forcing a federal government shutdown, which could leave policymakers, business leaders, and investors without critical data needed to assess the state of the U.S. economy. Stephen Stanley, Chief Economist at Amherst Pierpont Securities, stated that the next Fed meeting is scheduled for October 28th to 29th, and without updated government data, it will be difficult to justify another rate cut.

Some officials have been cautious about this, hoping to see more data. Neil Bradley, Chief Policy Officer at the U.S. Chamber of Commerce, stated that a government shutdown will not push the U.S. economy into a recession, but it will come at a cost and add to the uncertainty that businesses and industry leaders are already grappling with.