"The government shutdown is delaying another major economic report, leaving policymakers at the Federal Reserve with a cloudier picture even as the economy enters a challenging phase of stubbornly persistent inflation and a sharp slowdown in hiring. The Labor Department's monthly inflation data was scheduled for release Wednesday, but late last week was postponed until Oct. 24. The department is recalling some employees to assemble the data, which was collected before the shutdown began."
"Federal Reserve Chair Jerome Powell said Tuesday in remarks to the National Association for Business Economics that the central bank for now is looking at data from the private sector, such as payroll processor ADP, which issues its own monthly report on hiring by U.S. businesses, to gauge the economy. It is also relying on anecdotal reports from the hundreds of businesses that the regional Fed banks consult with."
Government shutdown delayed the Labor Department's monthly inflation data release until Oct. 24 and required recalling some employees to assemble precollected information. The delay affects calculation of annual cost-of-living adjustments for tens of millions of benefit recipients, including Social Security. Continued shutdowns prevent agencies from collecting raw data used to compile monthly reports on jobs, inflation, and other economic trends, risking longer delays for October statistics. The Federal Reserve is turning to private-sector measures like ADP payroll reports and anecdotal feedback from regional banks' business contacts to monitor hiring and activity. Fewer private alternatives exist to track inflation and growth, increasing uncertainty for policymakers.
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