U.S. Government Shutdown Resolution Eases Economic Concerns

According to BlockBeats, Michael Metcalfe, head of macro strategy at State Street, commented on the potential economic impact of a prolonged U.S. government shutdown. He noted that while the shutdown could have hindered economic growth, the recent resolution allows for some relief as severe economic slowdowns are avoided. The release of U.S. employment data, which was delayed due to the shutdown, is highly anticipated by investors. They are assessing whether the Federal Reserve will opt for another interest rate cut in December. Metcalfe highlighted that for the stock market to maintain its upward momentum, the data needs to be weak enough to prompt a rate cut by the Federal Reserve, yet not so weak as to raise concerns about an economic slowdown.