Fed Must Lean Dovish as US Govt Shutdown Continues, Rate Cut Odds Surge

The US government’s economic data blackout continues, with the shutdown entering day 23. There has been no September jobs report, any key inflation data, or initial jobless claims for weeks.

Additionally, the Fed has lost access to key private jobs data from ADP, covering 20% of private workers, reported the WSJ and Kobeissi Letter.