Shumita Basu
๐ค SpeakerAppearances Over Time
Podcast Appearances
But first, after 43 days of shutdown, the government has finally reopened.
In some ways, the country is expected to go back to normal pretty quickly, but that doesn't mean it was cost-free.
Over a million federal employees were either furloughed or worked without pay.
They were expected to return to work as soon as yesterday.
It'll take time to clear the bureaucratic backlog on everything from loan applications to unanswered customer calls.
Museums will gradually open over the weekend and food stamp payments will go out in full.
But again, there might be some delays there in states getting it to recipients.
Bloomberg's Congress reporter John Fitzpatrick told his network it takes some effort after President Trump put his pen to paper.
Disruptions at airports are expected to linger, and yesterday Homeland Security Secretary Kristi Noem announced a $10,000 bonus for some TSA officers who were given high-performance reviews by their managers while working through the shutdown.
When it comes to the economy, things might not just snap back right away.
The Congressional Budget Office says roughly $11 billion in economic activity will be permanently lost as a result of the shutdown.
Harriet Torrey is an economics reporter at The Wall Street Journal.
She says there's expected to be some make-up spending into the first quarter of next year as government workers receive back pay, but not everything will be recovered.
Meanwhile, the shutdown also created these blind spots in key economic data reporting, as jobs reports from September and October have been stalled.
A more complete September jobs report is expected, since most of the work on it was complete before the shutdown began.
October, though, is a mystery.
The White House initially said numbers for that month might never come out, but later on Thursday said a more scaled-back version could be released.
Tori says that's a crucial missing data point because the unemployment rate can be a telling sign.
Meanwhile, that data also informs the Federal Reserve as they consider another rate cut next month.
Fed Chair Jerome Powell hinted at the last meeting that incomplete information could influence their decision and slow down any rate cuts, comparing it to driving in the fog.