A real-time version of this phenomenon is playing out right now in my own field of mathematics in the United States (it is impacting countless other fields as well, but mathematics is the area where I have the most information). It is hiring season currently, with postdoctoral job offers being sent out as we speak, and candidates for tenure-track and tenured positions interviewing. However, the NSF postdoctoral fellowships, which were due to be announced some time this week, have been unexpectedly delayed due a recent executive order affecting almost all federal government funding.
Other major NSF funding sources for mathematics, such as the grants to mathematics institutions or the multiyear CAREER grants that have played a pivotal role in the trajectory of many talented mathematicians in the US, are also in a state of high uncertainty, in which it is not currently known whether grants which had been recommended for approval or renewal by the relevant NSF panels will actually get funded. (4/7)
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