With federal agencies like the Bureau of Labor Statistics (BLS) and the Bureau of Economic Analysis (BEA) closed due to the government shutdown, the Fed is at risk of missing out on key labor and inflation data ahead of the October 28-29 Federal Open Market Committee (FOMC) meeting.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
“Businesses, families, policymakers, markets, and even the Federal Reserve are flying blind at a key juncture in America’s economic resurgence because the Democrats’ government shutdown has halted the release of key economic data,” said White House spokesman Kush Desai.
Warren Accuses Trump of Withholding Labor Market Data
The jobs report, which was scheduled to be released this morning, has been put on hold due to the closure of the BLS. The report contains information crucial to the Fed, such as nonfarm payrolls and the unemployment rate.
However, Democratic Senator Elizabeth Warren has accused President Trump of holding back the data. “While the data has been processed and there was time to prepare for the data’s release in the event of a government shutdown, the Administration is choosing not to release Friday’s jobs report,” wrote Warren in a letter to BLS acting commissioner William Wiatrowski and Office of Management and Budget (OMB) Director Russ Vought. Trump has not publicly issued a response to Warren.
Data from federal agencies will begin to flow again once the government reopens.
Stay ahead of macro events with our up-to-the-minute Economic Calendar — filter by impact, country, and more.