CHICAGO: The economic impact of a government shutdown depends on both the breadth of the closure and its duration.
Chicago Federal Reserve President Austan Goolsbee made this assessment during a Tuesday event on the U.S. agriculture economy.
He noted that most historical government shutdowns have been relatively short in duration.
These limited shutdowns have typically resulted in minimal economic consequences.
Goolsbee delivered these remarks at the Chicago Fed’s headquarters during the agricultural economy discussion. – Reuters