Fed 'in a Fog' as it Heads Toward Another Rate Cut

The Federal Reserve is expected to cut interest rates on October 29th, aiming to support the US economy amidst a lengthy government shutdown that has left critical economic data unavailable. The shutdown has caused uncertainty, as the Fed lacks recent numbers like the September jobs report and larger reports on inflation and economic output. The Fed's decision isn't just about the numbers, but also about being cautious in the face of unknowns. Chair Jerome Powell's press conference will be closely watched for clues about the future. The central bank is weighed down by the shutdown's uncertainty, and a deal to end it could take at least six weeks to catch up on lost data. Until then, the Fed must make big decisions with only part of the picture. The Daily News Now! - Every city. Every story. AI Powered. Hosted on Acast. See acast.com/privacy for more information.