U.S. Government Shutdown Threatens Negative GDP Says Economic Council

Kevin Hassett, White House National Economic Council Director, warns that the ongoing U.S. government shutdown could lead to a negative GDP for the fourth quarter.

The prolonged shutdown threatens economic stability, with potential declines in local economies and disrupted federal activities, though no direct cryptocurrency impacts have been reported from official sources.

Hassett Forecasts 1.5% GDP Amidst Record Shutdown

Economic observers note challenges ahead as workforce dynamics are questioned amidst delays in federal funding and development projects.

We think that right now that this quarter’s GDP is going to be down, maybe about at least half a percent relative to what we thought because of the government shutdown. And every single week that this goes on, it gets worse and worse and worse.

“We think that right now that this quarter’s GDP is going to be down, maybe about at least half a percent relative to what we thought because of the government shutdown. And every single week that this goes on, it gets worse and worse and worse.” — Kevin Hassett, Director of the National Economic Council, White House Source

Ethereum Price Data Highlights Volatile Market Conditions

Did you know? The U.S. government shutdown that hit 38 days surpassed the previous 35-day record set during Trump’s administration, underlining broader economic vulnerability.

Based on data from CoinMarketCap, Ethereum’s current price is $3,505.96, with a market cap of $423.16 billion. The asset’s market dominance stands at 12.13 percent. Over the past 24 hours, Ethereum experienced a 3.70 percent price increase. Notably, its 30-day decline reached 14.73 percent. The trading volume decreased by 21.69 percent, signaling changing market dynamics.

Coincu research analysts highlight the absence of direct regulatory updates, yet suggest the economic uncertainty could delay policy changes affecting cryptocurrency markets. The analysis underscores volatile market conditions exacerbated by broader economic impacts. The analysis underscores volatile market conditions exacerbated by broader economic impacts.