The Dow Jones (DJIA) closed lower by 1.49% yesterday and opened Friday’s trading session with further losses as the effects of the government shutdown on federal economic data linger.
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The Labor Department has yet to release October’s Consumer Price Index (CPI) and jobs report, leaving the Fed in the dark on key metrics ahead of the December Federal Open Market Committee (FOMC) meeting. That comes as several Fed officials expressed concern about inflation remaining above the central bank’s target of 2%.
September Jobs Data Release Set for Next Week
This morning, U.S. Secretary of Labor Lori Chavez-DeRemer said that data for September’s jobs report has already been collected and could be released next week. On Thursday, National Economic Council Director Kevin Hassett said October’s jobs report will also be published, although it won’t provide the unemployment rate.
It’s unclear when the Labor Department will release October’s CPI, which it had originally scheduled for November 13. September’s report showed 3% annual inflation.
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