The U.S. government has started to layoff federal employees, the Office of Management and Budget's chief Russell Vought said on Friday, the 10th day of the shutdown, which is the first in six years.
In a post on the social media platform X, Vought said, "The RIFs have begun." RIFs is an acronym for reductions in force.
President Donald Trump had signaled such a move, which he said was intended to reduce the excess workforce that Democrats had created.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.