January 9, 2019 / 3:06 PM / 2 months ago

U.S. shutdowns usually have small economic effect: Fed official

FILE PHOTO: The dome of the U.S. Capitol is seen beyond a chain fence during the partial government shutdown in Washington, U.S., January 8, 2019. REUTERS/Kevin Lamarque

RIVERWOODS, Ill. (Reuters) - U.S. government shutdowns usually have a relatively small drag on the overall economy, though the Federal Reserve will monitor the effects and length of the current one, Chicago Fed President Charles Evans said on Wednesday.

“By and large these things are usually relatively small in terms of the imprint on the overall economy,” Evans said, adding there is a risk that consumers and businesses will get more cautious. The current partial government shutdown entered its 19th day on Wednesday.

Reporting by Jonathan Spicer; Editing by Chizu Nomiyama

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