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What’s Happened When the US Government Has Previously Shut Down?

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Republicans who control the U.S. Congress are expected to try to pass a temporary spending bill before a Friday deadline, when existing federal funding is set to expire and federal agencies would begin to shut down.While past shutdowns have done little lasting economic damage, these events can hurt federal workers, rattle markets and shake confidence in the United States abroad.Since Congress implemented the modern budget process in the mid-1970s, there have been 18 gaps in government funding, according to the Congressional Research Service (CRS), but not all resulted in government shutdowns. In fact, only three of them had a significant impact.

Source: Factbox: A look at past U.S. government shutdowns – Reuters

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Former Craig

Former Craig

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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