U.S. President Donald Trump signed an executive order on the 18th (local time) designating the two days around Christmas as holidays for federal departments and agencies. It is seen as a policy move aimed at reversing a decline in approval ratings.
Under the executive order, employees of federal departments and their subordinate agencies will be exempt from work obligations on the 24th and the 26th. However, if essential duties such as national security or defense are required, the responsible employees may have to report to work.
There have been instances in the past when a U.S. president designated about a day around Christmas as a holiday. President Trump designated Christmas Eve in 2019 and 2020, during his first term, as a day off for federal employees, and former President Barack Obama also set the day after Christmas in 2014 as a holiday.
However, making both the 24th and the 26th days off drew assessments as unusual. The U.S. online outlet Axios analyzed that "as public dissatisfaction with the economy grows, this appears to be one of President Trump's 'populist' policy moves in response."
Despite President Trump's holiday designation, the New York Stock Exchange (NYSE) and Nasdaq will operate on their existing schedules. According to Bloomberg, the 24th will have an early close at 1 p.m. Eastern time. The 25th, Christmas Day, will be a market holiday, and on the 26th the regular session will run from 9:30 a.m. to 4 p.m.