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Fortune
Fortune
Eva Roytburg

Former BLS chief warns Powell is “flying blind” at a pivotal time for the Fed

Federal Reserve Chairman Jerome Powell speaks during a news conference following a Federal Open Market Committee meeting in Washington on November 07, 2024 in Washington, DC. (Credit: Kent Nishimura—Getty Images)

The Federal Reserve faces an unprecedented challenge as it prepares to set interest rates next week—making its decision with almost no economic data available.

The government shutdown has halted the release of most U.S. economic statistics, including the monthly jobs report. However, the Fed also recently lost access to one of its main private sources of backup data. 

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