Goldman Sachs Research economist Alec Phillips examines the potential economic repercussions of a prolonged US federal government shutdown. Recorded on October 7, 2025, the analysis explores how extended disruptions in government operations could affect both domestic economic conditions and financial markets. The discussion focuses on duration, fiscal implications, and broader macroeconomic risks associated with a halt in federal spending and services. n nThe assessment comes with standard disclosures: views expressed are current as of the publication date and subject to change. They do not represent official positions of Goldman Sachs or its affiliates. The material is intended solely for informational purposes and should not be interpreted as investment advice, a solicitation, or a recommendation to take any specific financial action. n nForward-looking statements are included and should be considered with caution, as past performance does not guarantee future outcomes. Goldman Sachs disclaims responsibility for the accuracy or completeness of the information provided and advises against reliance on this content for decision-making. Third-party organization names are used strictly for identification and do not imply endorsement, affiliation, or licensing. n nA transcript is available for reference but may not fully align with the original audio or video. Unauthorized reproduction, distribution, or disclosure of the material is prohibited without prior written consent from Goldman Sachs. Additional research disclosures related to any mentioned entities can be accessed through official Goldman Sachs channels. n nImportantly, the firm maintains a strict policy of political neutrality and does not endorse any candidate or political party. n
— news from Goldman Sachs
— News Original —
The Shutdown’s Economic Impact
How long could the US government shutdown last — and what will that ultimately mean for the US economy? Goldman Sachs Research’s Alec Phillips, chief US political economist, explores the potential impact on economies and markets. n nThis episode was recorded on October 7, 2025. n nThe opinions and views expressed herein are as of the date of publication, subject to change without notice, and may not necessarily reflect the institutional views of Goldman Sachs or its affiliates. The material provided is intended for informational purposes only, and does not constitute investment advice, a recommendation from any Goldman Sachs entity to take any particular action, or an offer or solicitation to purchase or sell any securities or financial products. This material may contain forward-looking statements. Past performance is not indicative of future results. Neither Goldman Sachs nor any of its affiliates make any representations or warranties, express or implied, as to the accuracy or completeness of the statements or information contained herein and disclaim any liability whatsoever for reliance on such information for any purpose. Each name of a third-party organization mentioned is the property of the company to which it relates, is used here strictly for informational and identification purposes only and is not used to imply any ownership or license rights between any such company and Goldman Sachs. n nA transcript is provided for convenience and may differ from the original video or audio content. Goldman Sachs is not responsible for any errors in the transcript. This material should not be copied, distributed, published, or reproduced in whole or in part or disclosed by any recipient to any other person without the express written consent of Goldman Sachs. n nDisclosures applicable to research with respect to issuers, if any, mentioned herein are available through your Goldman Sachs representative or at http://www.gs.com/research/hedge.html. n nGoldman Sachs does not endorse any candidate or any political party.