You know that dream where you’re sitting a test you haven’t studied for? That could be the Fed if the US government shuts down and stops publishing data. Good thing their rate decisions don’t have global influence.

The lowdown

• 📉 JPMorgan CEO Jamie Dimon warns the world may not be ready for Fed rates at 7%.

• 🪫 Ford halts work on $3.5 billion electric vehicle battery plant.

• 🚀 Jeff Bezos appoints a new CEO at Blue Origin.

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US government shutdown could delay key economic data

A US government shutdown could be the most disruptive yet to economics and policymakers. Major US economic data will be suspended indefinitely if the government shuts down at the end of the week, according to Reuters which cited a government official.

This marks a departure from the last government shutdown between December 2018 and January 2019, which didn’t affect the Labor Department and allowed the BLS and its Employment and Training Administration to keep publishing data.

Data releases that would be affected include the September jobs report and the Consumer Price Index, due on October 6 and 12 respectively. Depending on the length of the shutdown, the first estimate of third-quarter GDP data could also be delayed.

It’d cause problems for the Fed, which held rates at its last meeting but indicated it could take more action if needed to rein in inflation. But as a self-funded organisation, the Fed itself would keep publishing data.

The content we're consuming today

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Off-balance sheet items

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The bottom line