If President Trump and Democratic lawmakers fail to reach a funding deal before a Wednesday deadline, the Bureau of Labor Statistics (BLS) will shutter until the shutdown is over, according to a contingency plan released Monday by the Labor Department.
That would prevent the BLS from releasing the highly anticipated September jobs report on Friday as scheduled, and it could delay the agency’s collection of other key economic data.
The BLS also produces consumer price index (CPI) data on inflation and wages — both of which are closely watched by policymakers and investors.
“A lot of economic data can’t be released during shutdowns,” Callie Cox, chief market strategist at Ritholtz Wealth Management, wrote in a Monday analysis.
“This is a big deal for our interest-rate superheroes (the Federal Reserve), who preach about how they like to make decisions based on economic data. You, me and Fed chair Jay Powell are all flying blind without these crucial reports,” Cox continued, referring to Federal Reserve Chair Jerome Powell.
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