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Powell warns shutdown is clouding Fed’s view of the economy: 'Driving in the fog'

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1 day ago

Federal Reserve Chairman Jerome Powell said Wednesday it remains unclear whether the ongoing government shutdown and the resulting lack of key economic data will affect the central bank’s December meeting.With key indicators still missing due to the shutdown, Powell said the Fed will proceed carefully until it has a clearer view of the economy."If you’re driving in the fog, you slow down," he said at the conclusion of the two-day Federal Open Market Committee (FOMC) meeting. The FOMC's next policy meeting is scheduled for Dec. 9–10.FED CUTS INTEREST RATES FOR SECOND TIME THIS YEAR AMID LABOR M...

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