White House officials have expressed doubts about the availability of key economic reports due to the ongoing government shutdown. The reports, which are typically released by the Bureau of Labor Statistics and the Department of Labor, may not be made public due to a lack of staff.
According to White House press secretary Karoline Leavitt, October's consumer price index (CPI) report is unlikely to be released, potentially causing irreparable damage to the statistical system. Leavitt warned that without access to this data, policymakers at the Federal Reserve will be flying blind during a critical period in their decision-making.
While it's expected that September's jobs report, which was collected before the shutdown began, will still be made available, October's report has yet to materialize. Economists are bracing themselves for uncertainty, as they had already anticipated some data gaps due to the government shutdown.
The Federal Reserve is expected to make its next monetary policy moves without full access to these reports. Some experts expect the Fed to use private sector data instead, citing the recent ADP jobs report, which showed a modest increase in employment last month.
However, others are more cautious, pointing out that official job numbers have been less robust of late and that any reliance on private sector alternatives could be problematic. The Federal Reserve Chair Jerome Powell downplayed the impact on the December meeting, but acknowledged that data uncertainty might require adjustments to policy decisions, likening it to driving in a fog – slowing down to navigate the uncertainty.
The implications for economic decision-making are uncertain, with some experts warning of a "fog of data" once the shutdown ends. The White House's comments have added fuel to concerns about the availability and accuracy of key statistics during this period, raising questions about how policymakers will navigate the challenges ahead.
According to White House press secretary Karoline Leavitt, October's consumer price index (CPI) report is unlikely to be released, potentially causing irreparable damage to the statistical system. Leavitt warned that without access to this data, policymakers at the Federal Reserve will be flying blind during a critical period in their decision-making.
While it's expected that September's jobs report, which was collected before the shutdown began, will still be made available, October's report has yet to materialize. Economists are bracing themselves for uncertainty, as they had already anticipated some data gaps due to the government shutdown.
The Federal Reserve is expected to make its next monetary policy moves without full access to these reports. Some experts expect the Fed to use private sector data instead, citing the recent ADP jobs report, which showed a modest increase in employment last month.
However, others are more cautious, pointing out that official job numbers have been less robust of late and that any reliance on private sector alternatives could be problematic. The Federal Reserve Chair Jerome Powell downplayed the impact on the December meeting, but acknowledged that data uncertainty might require adjustments to policy decisions, likening it to driving in a fog – slowing down to navigate the uncertainty.
The implications for economic decision-making are uncertain, with some experts warning of a "fog of data" once the shutdown ends. The White House's comments have added fuel to concerns about the availability and accuracy of key statistics during this period, raising questions about how policymakers will navigate the challenges ahead.
The gov shutdown is already affecting so much its not even fair that they dont have staff to make these reports public 
I feel bad for the econs who are trying to help us navigate thru this uncertainty 
Jerome Powell saying it like "driving in a fog" 
makes sense tho we gotta slow down and think before making any major decisions 
I'm not surprised by this at all. Government shutdowns are a recipe for disaster when it comes to data collection and release. Who do they think is going to make these reports happen if they're not getting paid? 
It's like they expect private companies to fill the gap, which just won't cut it. I mean, how reliable can we trust ADP's numbers when they're just trying to sell us something? 
This whole thing is a mess and it's only going to make things harder for people who actually need accurate data to make informed decisions. 
and I'm totally obsessed with it now! Have you ever been to a place like that? It's so Instagrammable, I wanna go back there with my friends and have a blast. And speaking of food, have you tried those new plant-based burgers that just came out? 
My friend raved about them and I'm dying to try one! Anyway, back to this government shutdown... yeah, it's like driving in a fog, right? 
But for real, who needs all this data anyway?
. I think it's crucial that we acknowledge the potential for 'data blindness' as mentioned by Chair Powell - essentially, policymakers are navigating uncertain waters without access to critical data 
. The fact that some experts are advocating for private sector alternatives raises questions about the reliability of these reports 
. It's a classic case of 'governance by uncertainty', which could lead to decisions based on incomplete information 
. I'm keeping an eye on this, as it's essential we maintain transparency in our economic data 
October's CPI report is basically non existent and that's gonna mess up the whole economy 
I mean i get it the shutdown is no joke but cmon can't they at least make some effort to get the reports out 
Jerome Powell is trying to downplay it but we all know its a big deal 
economists are already freaking out and now it looks like the fed might have to make decisions without full data 
this fog of data thing is gonna be real folks stay vigilant 
. And what about the long-term effects on our kids' education and job prospects? This shutdown is having far-reaching consequences, not just for the economy, but for their futures too 
.
. Can't imagine what kinda decisions are gettin' made without that data 
. This whole "fog of data" thing? 
It's like they're tryin' to navigate through a foggy day without no map 
.
. They're already having trouble releasing some key reports, and now they're saying they might not even have access to others 
. 
. We just hope they figure out a way to get things back on track soon 
thats pretty sus imo 
& i gotta ask, cldnt dey jst find some other ppl 2 do the work? 
& now ppl r talkin bout a "fog of data" lol wut even is that? 
Jerome Powell is right about slowing down and navigating the uncertainty, though - driving in a fog requires some serious caution 
I'm not an economist or anything, but even I know that's bad news for people who are already struggling 
where you gotta navigate through multiple realities... except instead of dreams, it's economic reports 
️. Jerome Powell's analogy about driving in the fog 
. anywayz, this is getting messy 
I'm not saying they can't handle it, but what if they mess up? What if we're stuck in this economic fog forever? 
It's like they're playing a game of economic Jenga and they keep removing blocks 
It's like they're trying to recreate the 90s all over again 
. Remember when the economy was actually good? 
Those were the days...
and it's making me wonder if we're putting too much faith in technology to fill in the gaps 
when we should be thinking about how to rebuild our systems from scratch 