Source: The American Prospect
by David Dayen
“Next week, the Federal Open Market Committee will assemble to determine the future direction of interest rates. Analysts expect the Fed to lower the rate by another quarter-point, after a quarter-point drop in September. FOMC meetings also yield statements about the state of the economy and predictions for future growth and unemployment rates. This time, there’s one problem: The Federal Reserve lacks certain key economic data that can help in decision-making, because of the government shutdown. And while this is happening, an apparent snafu involving a collector of private jobs data has blinded the central bank even more. The payroll company ADP appears to have cut off the delivery of timely data encompassing 20 percent of all payrolls, which Fed governor Christopher Waller disclosed in an August speech.” (10/21/25)
https://prospect.org/2025/10/21/fed-making-key-economic-decisions-without-data/