Historic Shutdown Ends; Fed Left Blind Without Data as Congress Presses Forward

• The US Congress passed a bipartisan deal reopening government, sending the bill to President Trump for approval.
• The Fed now confronts missing jobs and inflation data ahead of its critical December rate meeting.
• Agencies like SEC and CFTC restart crypto rulemaking, while Congress prepares for new budget battles.

Congress has passed a bill to end the record-breaking 43-day US government shutdown, bringing relief to federal agencies and millions of workers affected by the crisis.

On November 12, 2025, the House approved the legislation to reopen the government, followed by a 60-40 vote in the Senate. The bill now heads to President Trump.

Historic Shutdown Disrupts Services Nationwide {#h-historic-shutdown-disrupts-services-nationwide}

The 43-day shutdown, the longest in US history, suspended federal contracts, halted food aid payments, and led to thousands of flight cancellations nationwide. It also caused over 2,500 flight cancellations as air traffic controller shortages worsened. Agencies such as the FAA worked to maintain airport operations. Toward the end, more staff returned as lawmakers moved to a solution.

Businesses depending on federal contracts suffered significant losses. Native American tribes like the Fort Peck Assiniboine & Sioux had to slaughter buffalo to provide food when federal funds stopped. Many college students who rely on federal SNAP (food aid) have turned to campus support services.

Nancy Pelosi just torched the GOP’s shutdown deal:

“They want us to vote to take millions off Medicaid, rip half a trillion from Medicare, and triple health costs for working families and call that a bill to reopen government? You must be crazy.”

Pelosi’s fire still burns. pic.twitter.com/q1Q1WPydlv — Brian Allen (@allenanalysis) October 30, 2025

The compromise bill ignited heated debate in Congress. Democratic leaders, including Nancy Pelosi, objected to provisions that would cut funding for Medicaid and Medicare, saying they would threaten affordable health care.

Despite these concerns, House Speaker Mike Johnson negotiated the deal to restore federal services and prevent deeper economic harm. The 60-40 Senate vote demonstrated bipartisan urgency to resolve the impasse.

Next Steps and Lingering Concerns {#h-next-steps-and-lingering-concerns}

With the legislation on the president’s desk, agencies are preparing to resume regular operations.

With the December meeting coming up, the Fed will have somewhat reduced uncertainty, but it still faces significant challenges due to the data blackout during the shutdown. The government didn’t fully release the critical October jobs and inflation data, or may have permanently skipped it. This leaves the Fed with incomplete information as it approaches its December meeting.

As a result, the Fed is expected to proceed cautiously, likely leaning toward maintaining or cutting interest rates to support economic growth and employment amid ongoing risks and uncertainty. The shutdown’s end means data collection can resume, but it will take time for the whole financial picture to re-emerge.

Meanwhile, federal agencies involved in cryptocurrency regulation and market oversight are expected to resume normal operations. The CFTC, the SEC, and other agencies, such as the IRS and the OCC, will resume rulemaking, enforcement, and regulatory analysis. This will accelerate approvals for new ETFs and other products pending SEC review, which had been slowed by furloughs.

The resumption of regulatory activities also affects responses and developments regarding broader fintech legislation, such as the Senate Agriculture Committee’s recent draft bill to allow the CFTC to oversee crypto spot markets, a confirmation hearing for the new CFTC head, and the GENIUS Act.

However, it remains uncertain if this agreement will prevent similar shutdowns in the future. The shutdown’s effects will linger for contractors, federal workers, airports, tribal communities, and low-income families.