Bureau of Labor Statistics cancels October inflation report

The Bureau of Labor Statistics (BLS) will not release the October inflation report due to data collection issues caused by the recent government shutdown. Almost all BLS staff were furloughed for 43 days, preventing data gathering for consumer price index (CPI) updates. The shutdown also delayed the October jobs report.

Without new major data, the Federal Reserve faces challenges before its interest rate meeting on December 9-10. The Federal Open Market Committee is divided on whether to cut rates or maintain them amidst rising inflation. President Trump criticized Fed Chair Jerome Powell, indicating he would have replaced him if not for Treasury Secretary Scott Bessent's intervention. Powell’s term ends in May, and potential successors are being considered.