Golden Finance reported that under the instructions of the U.S. Department of Efficiency, U.S. federal agencies have recently laid off their employees one after another. Despite the increasing litigation, it seems that the government's phase-out in terms of funds and personnel may continue. So far, its long-term impact is unclear. While the market has reacted negatively to policies such as tariffs, investors don’t seem to be worried about federal layoffs; the S&P 500 has hit new highs twice in the past week alone. The U.S. federal government employs 3 million, accounting for about 1.9% of all U.S. jobs, excluding the military. Paijie Investments said 29,000 federal workers were fired as of last Friday. So far, economists have not issued a warning about this.