One of Bitcoin’s First Millionaires Issues Controversial Warning

On Monday, September 21, at 4 p.m. ET, Matt McCall will sit down with this bitcoin tycoon to warn the public about an urgent event about to rock the crypto world.

Mon, September 21 at 4:00PM ET

Morgan Stanley: What to Expect Next From the Government Shutdown

Expect at least some financial fallout to happen

NewLettersMorgan Stanley has issued a note about the U.S. government shutdown — and here are some quick takeaways from the analysis.

From Morgan Stanley’s chief U.S. economist Vincent Reinhart (via Business Insider):

  • A 15 basis point drag on fourth-quarter real GDP growth, at an annual rate, for every week of shutdown as furloughed workers do not put in usual hours.
  • Most data releases delayed, including the employment situation for September that was scheduled for release on Friday.
  • The quality of some official data to degrade as the shutdown lengthens because workers will not be in the field to collect the raw information.
  • Treasury payments to be processed, including principal and interest, as its fiscal agent, the Federal Reserve, remains open for business.

Reinhard estimates the shutdown to last no more than a week.

Article printed from InvestorPlace Media,

©2020 InvestorPlace Media, LLC