In an Extraordinary Move, the Fed Just Cut Rates Without Access to Key Economic Data. What Does That Mean?

Fed lowers interest rates as it struggles to assess state of US economy without key government data

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In an Extraordinary Move, the Fed Just Cut Rates Without Access to Key Economic Data. What Does That Mean?

Even though they had no access to hard economic data due to the government shutdown, the Fed cut rates anyway.

The Fed is missing government data. Will it impact plans to cut the short-term rate?

The Federal Reserve is expected to cut its short-term rate Wednesday for the second time this year despite an increasingly cloudy view of the economy it is trying to influence.The government shutdown has cut off the flow of data that the Fed relies on to track employment, inflation, and the broader economy. September’s jobs report, scheduled for release three weeks ago, is still postponed. This month’s hiring figures, to be released Nov. 7, will…

Fed struggles to assess state of US economy as government shutdown shuts off key data

The shutdown has closed off some of the Fed’s key economic data taps. (picture alliance/Getty Images)When it comes to setting monetary policy for the world’s largest economy, what data drives decision-making? In ordinary times, Federal Reserve Chair Jerome Powell and voting members of the Federal Open Market Committee, which usually meets eight times a year, have a wealth of information at their disposal, including key statistics such as monthl…

As the US navigates a minefield with its eyes closed, the global economy holds its breath

Amid a US government shutdown, there are no staff tracking economic data. The stock market is still showing health, but there are risks to keep a close eye on. The post As the US navigates a minefield with its eyes closed, the global economy holds its breath appeared first on Crikey.

Fed struggles to assess state of US economy as government shutdown shuts off key data

The shutdown has closed off some of the Fed’s key economic data taps. picture alliance/Getty ImagesWhen it comes to setting monetary policy for the world’s largest economy, what data drives decision-making? In ordinary times, Federal Reserve Chair Jerome Powell and voting members of the Federal Open Market Committee, which usually meets eight times a year, have a wealth of information at their disposal, including key statistics such as monthly e…