Fed expected to cut interest rates despite data blackout
Update: 2025-10-29
Description
On October 29th, the Federal Reserve is set to lower the benchmark interest rate, with a ninety-six percent chance of a quarter-point cut. Despite data challenges, including a government shutdown and ADP's withdrawal of private payroll data, the Fed is expected to move ahead. The labor market shows signs of strain, with a drop in private-sector payrolls in September, but there's a hint of possible improvement. Inflation remains moderate, with the consumer price index up only three percent over the last year. All eyes are on the Fed's decision, with Chair Jerome Powell set to answer questions at two thirty eastern time. The financial markets remain unfazed, with the stock market on a roll and bond yields signaling easier money might stick around.
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