CHRISTOPHER RUGABER Economics Writers.

A hiring sign is displayed at a post office in Schaumburg, Ill., Thursday, Sept. 18, 2025. (AP Photo/Nam Y. Huh)

Lack of jobs data due to government shutdown muddies the outlook for hiring and the economy

From Wall Street trading floors to the Federal Reserve to economists sipping coffee in their home offices, the first Friday morning of the month typically brings a quiet hush around 8:30 a.m. eastern, as everyone awaits the Labor Department’s monthly jobs report. But this Friday, with the government shut down, no jobs report covering September was released. The interruption in the data has occurred at a particularly uncertain time, when policymakers at the Federal Reserve and Wall Street investors would likely prefer more data on the economy, rather than less.

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Federal Reserve Board Chairman Jerome Powell listens during a hearing of the House Committee on Financial Services on Capitol Hill, Tuesday, June 24, 2025, in Washington. (AP Photo/Mark Schiefelbein)

Federal Reserve’s Waller says central bank should cut rates at next meeting

A top Federal Reserve official said late Thursday that the central bank should cut its key interest rate later this month, carving out a different view than that of Chair Jerome Powell, who has been harshly criticized by the White House for delaying rate cuts. Christopher Waller, a member of the Fed’s governing board, said in a speech in New York City that the economy is showing signs of weakening, with consumer spending slowing and job gains cooling.

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