The government shutdown and the suspension of long-standing economic reports is occurring at a potential inflection point in the current business cycle. The Federal Reserve needs to know if the labor market is stabilizing or weakening further and whether inflation is rising more than expected, as FOMC members decide if cutting the Funds rate at the October 29 meeting is warranted. Investors want current economic data to determine if the FOMC will cut at the next meeting and whether the economy is remaining on solid ground. In his Jackson Hole speech in August 2023 Chair Powell said, “ We...
