Fed Rate Cut in Dec. Possible
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The Bureau of Labor Statistics announced Friday that it won't deliver the October Consumer Price Index report before the Fed meets again.
The long-delayed September jobs report will give the Fed more visibility into the labor market. Yet the central bank won't get the more critical October and November reports until after its meeting early next month to decide whether to cut interest rates again.
The Federal Reserve is deeply divided right now between officials who think it should cut interest rates next month and those who don't. One plausible result of the vote would create a stunning irony.
The Richmond Fed chief says assessing inflation is especially challenging in the absence of official statistics.
Market participants will be closely watching the minutes of the October FOMC meeting for clues regarding the potential rate cut in December.