U.S. Shutdown Begins to Bite as Treasury Prioritizes Payments, Says Scott Bessent
The U.S. government shutdown is now cascading into the real economy, forcing the Treasury to triage payments. Military personnel remain prioritized, while federal workers—including staff at Smithsonian museums and the National Zoo—face furloughs. Critical economic data releases are suspended, and agricultural aid hangs in limbo.
Scott Bessent, speaking on Fox Business, underscored the widening Ripple effects: "This is getting serious." The standoff threatens fragile sectors from agriculture to tourism, compounding existing economic pressures.
Amid domestic turmoil, Bessent confirmed the upcoming Trump-Xi meeting at the APEC summit remains on track. Tensions over rare earths have reportedly de-escalated after intense backchannel negotiations between Washington and Beijing.
