White House Indicates October Economic Reports May Not Be Released

The White House announced that key economic reports for October, including the Consumer Price Index (CPI) and jobs data, may not be released due to the government shutdown. White House Press Secretary Karoline Leavitt stated that the shutdown has "permanently damaged the federal statistical system," potentially preventing the release of these reports.

Economists had anticipated delays in the release of October's CPI data, as federal workers responsible for data collection were furloughed after October 1. The Bureau of Labor Statistics and the Department of Labor have not provided comments on the situation.

Federal Reserve Chair Jerome Powell acknowledged the challenges posed by the lack of official data, noting that the Federal Reserve is relying on private sector data and internal surveys in the interim. He emphasized the importance of caution in policy decisions during this period of limited data availability.