Political Economy Review- End of October 2025 

Written By Nicholas Djoulia

The end of October is upon us. Let's discuss some of the hottest topics in the recent news

On Friday, October 24, the Bureau of Labor Statistics released its September inflation data, which the government shutdown had delayed. The inflation rate hit 3.0% in September, lower than expected, and rose 0.3% month over month. Core inflation also hit 3.0% in September, increasing 0.2% month-to-month. To mention, even during the government shutdown, the BLS released this data to give the Social Security Administration a benchmark for cost-of-living adjustments in benefit checks. Though the inflation report beat expectations, economists remain wary of the tariffs' implications, and now the government shutdown could affect the economy in the future.

The 2025 election season is upon us. Some of the prominent elections include the New Jersey Governor's race, with Jack Ciatterelli(R) squaring up with Rep. Mikie Sherrill(D), the Virginia governor's race, with Lt. Governor Winsome Earle-Sears(R) facing Abigail Spanberger, and the New York City Mayoral Race, with Curtis Sliwa(R) facing Rep. Zohran Mamdani(D) and Fr. Governor Andrew Cuomo(I). This election season is yet another display of the ongoing quarrel between Democrats and Republicans, Trump's ideals vs. the Democrats' trying to regain control. Especially in the New York race, Sliwa wants to beef up funding for the NYPD, while Mamdani intends to cut it, showing very different belief systems clashing with each other. It will be exciting to see how it all pans out on Election Day.

Since October 1st, the Federal government has remained in a shutdown. This means that Congress was unable to pass the necessary legislation to fund the Federal government, leading to a closure of Federal agencies and operations. For the vast majority of agencies and operations, they remain closed, with over 1.4 million federal workers missing their paycheck earlier this month. A mysterious donor donated over $130 million to the military to get their paychecks earlier in the week. The concerning thing is that Democrats and Republicans have not gotten any closer to settling their differences and passing the necessary legislation to reopen the government (they are still arguing over the Affordable Care Act and healthcare benefits). It will be interesting to see, in conjunction with the upcoming elections, if the shutdown can end.

Well, that is it for October. Tune in for further news and updates in November!

References

I have solid, well-dated sources for all three stories in this post. Here are the references, ready to paste below it.

Political Economy Review — End of October 2025 — References

Nicholas Djoulia
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