How the partial government shutdown is impacting the markets

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LEXINGTON, Ky. (WKYT/SWD) - The partial government shutdown is now on day 19. It's impacting more than 800,000 federal employees. Matt Dicken, CEO and Founder of Strategic Wealth Designers talks about the impact the shutdown is having on the economy.

MGN

The shutdown is affecting all types of people. It's the second longest shutdown in history behind the 1995 shutdown.

"We had someone just this week call our office to look at something with their accounts that we would have normally done over the phone with them but they didn't have a computer because the only computer they owned was operated by the state and it was shut off during this shutdown, so we ended up having to have them come in for an appointment for what would have normally been a very simple phone call," Dicken said.

"Historically shutdowns usually don't last this long so we are in a little bit of uncharted territory so this one is unique," Dicken said. "This is a partial shutdown so the majority of the federal government isn't impacted and most are still getting paid so we haven't really reached a level of anything more than an inconvenience."

"For the overall economy, it has little to no direct impact because it isn't significant enough to move the needle. The stock market may be impacted the most because the markets like things to be steady and predictable and this situation is anything but predictable, so hopefully it ends soon," Dicken said. "But moving forward, the number of people not being paid will potentially increase, rapidly changing the scenario."



 
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