John Waldron, Chief Operating Officer of Goldman Sachs and widely regarded as CEO David Solomon’s successor, has called for an immediate end to the ongoing US government shutdown, warning of potential ripple effects on the broader economy and financial markets. The shutdown, which began on October 1, 2025, has left most government operations suspended and federal employees working without pay.
In an exclusive interview, Waldron emphasized that the American system “works better when the government is open.” He highlighted the risks of prolonged inactivity, noting that delayed responses from regulatory agencies like the SEC could force companies to postpone IPOs and capital formation initiatives. “The longer it goes, the more likely you have companies that can’t get approvals on time, which slows growth and innovation,” he said.
The Wall Street executive’s warning is echoed by Treasury Secretary Scott Bessent, who estimates the shutdown could cost the US economy up to $15 billion per day. Analysts from Wells Fargo added that each week of the funding lapse could shave off 0.1–0.2 percentage points of quarterly GDP growth, signaling potential economic slowdown if the impasse continues.
Goldman Sachs itself recently posted record third-quarter earnings, bolstered by strong trading and advisory performance. However, executives cautioned employees about potential job cuts, partly driven by AI-driven operational changes.
For investors, including those in cryptocurrency and alternative markets, the shutdown introduces additional uncertainty. Delays in IPOs and capital formation can affect market liquidity, investor sentiment, and funding for innovative tech projects, including blockchain startups.
Waldron’s comments serve as a reminder of how closely government operations influence market dynamics, highlighting the interconnectedness of traditional finance, innovation sectors, and digital assets.
