White House adviser Kevin Hassett says the US government shutdown is likely to end this week, which could give markets a pro-growth boost.
Government shutdown nearing end?
The US government has been “shut down” for three weeks, but “it will probably end this week,” White House economic adviser Kevin Hassett told the media.
I think Schumer’s suspension will probably end this week
– he said in Monday’s program Squawk Box In CNBCreferring to Democratic Senate Minority Leader Chuck Schumer, whom Republicans accuse of causing the government shutdown.
Moderate Democrats will go ahead and keep our government open, we will be able to negotiate any policies they want, according to the established order
– he added.
If that fails, the Trump administration could introduce “more robust measures” to force Democrats to cooperate.
It is worth adding that this was said by a man who is a supporter of cryptocurrencies and who has digital assets worth over a million USD. He is also one of Donald Trump’s three main candidates to succeed Jerome Powell as chairman of the Federal Reserve. Changes in the central bank will take place in May 2026.
The U.S. government shutdown began on October 1 and is now in its 21st day. During Trump’s first term, it lasted 35 days and was related to the political conflict regarding the construction of a “wall” on the border with Mexico.
Cryptocurrencies are waiting for the government’s decision
The cryptocurrency market may skyrocket when the government is “suspended”. Draft bills regarding the digital assets market are pending in Congress. Another key document, championed by Cynthia Lummis, is the BITCOIN Act, which, if passed, could facilitate bitcoin purchases in a budget-neutral way.
According to media reports, Democratic senators are scheduled to meet on Wednesday with industry leaders from Coinbase, Circle, Ripple and other companies to discuss how work on the proposed U.S. cryptocurrency market structure bill can be accelerated.
Despite Hassett’s optimism, Polymarket estimates there is a 71 percent chance that the U.S. government shutdown will last longer than 30 days, or at least through October 31.
