Kevin Hassett Says Shutdown Is ‘Likely To End Sometime This Week’: Report

• Hassett stated that President Donald Trump has maintained that the Senate needs to work out the U.S. government shutdown problem.
• He said that the White House will have to look at “stronger measures” if the shutdown does not end this week.
• The crucial consumer price index (CPI) report is scheduled to be released on Friday, a week before the Federal Open Market Committee’s (FOMC) meeting.

Director of the National Economic Council, Kevin Hassett, on Monday reportedly stated that the U.S. government shutdown is “likely to end sometime this week.”

Hassett’s comments came at a time when the U.S. government shutdown had entered its 20th day.

‘Bad Optics’ To Open Government Before ‘No Kings’ Rally

During an interview with CNBC, Hassett said that while President Donald Trump has been active throughout the process of trying to end the government shutdown, the President has taken a position that the Senate needs to work it out.

“A lot of our friends in the Senate have said that it was just bad optics for Democrats to open the government before the ‘No Kings’ rally, and that now there is a shot that this week things will come together, and very quickly, the moderate Democrats will move forward and open the government.”

— Kevin Hassett, Director, National Economic Council

Stronger Measures Possible If Shutdown Doesn’t End

Hassett added that while he thinks the U.S. government shutdown is “likely to end sometime this week,” he stated that if it doesn’t, then the White House will have to look at “stronger” measures to bring the Democrats to the negotiating table.

The U.S. government has now entered its 20th day of shutdown, resulting in delays in the release of several economic reports. The crucial consumer price index (CPI) report is scheduled to be released on Friday, a week before the Federal Open Market Committee’s (FOMC) meeting.

According to data from the CME FedWatch tool, there is a 98.9% probability of a 25 bps interest rate cut this month.

Why Did The U.S. Government Shut Down?

The U.S. government entered a shutdown on October 1 over Congress’s failure to pass funding legislation for the fiscal year 2026. While pay has been suspended for nearly two million federal workers, nearly 750,000 have been furloughed, according to a report by CBS News.

Meanwhile, U.S. equities rose in Monday’s opening trade. At the time of writing, the SPDR S&P 500 ETF (SPY), which tracks the S&P 500 index, was up 0.61%, the Invesco QQQ Trust ETF (QQQ) surged 0.9%, while the SPDR Dow Jones Industrial Average ETF Trust (DIA) gained 0.49%. Retail sentiment around the S&P 500 ETF on Stocktwits was in the ‘extremely bearish’ territory.

Also See: Azitra Shares Soar Pre-Market: What’s Driving The Surge?

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