Federal Reserve Bank of Chicago President Austan Goolsbee discusses the impact that a government closure would have on the agency, inflation and more about ‘The Claman Countdown’.
Chicago Federal Reserve President Austan Goolsbee said on Tuesday that the Central Bank will view alternative data sources to consider during its October meeting as the upcoming economic data will not be released as planned due to a potential closure of the government.
The government is planned to close on Wednesday at 12:01 pm if the congress does not approve a financing extension. The house has adopted a continuous resolution, but the efforts have stuck in the Senate, while Democrats insist on continuous financing of health care subsidies that must end. The labor department would be included and it said that it would stop all economic data spending in the event of a partial closure.
Partiza -enhancing crucial economic data, which makes Fed – and families – in the dark
Chicago Federal Reserve President Austan Goolsbee during a television interview at the Jackson Hole Economic Policy Symposium in Moran, Wyo., August 21, 2025. (David Paul Morris / Bloomberg via Getty Images / Getty images)
The Bureau of Labor Statistics of the Labor Department is expected to release information for Thursday and September Friday Vrij Friday and September. The consumer price index for September, a broad measure for how many everyday goods such as gasoline, groceries and rental costs, is planned for release 15 October.
Inflation remained stubbornly high in August, because Fed weighs the tariff reductions
The labor department will release the consumer price index for September 15 October. (Frederic J. Brown / AFP via Getty Images / Getty images)
The next policy meeting of the FED is planned for 28-29 October.
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The next meeting of the federal open market committee is planned for 28-29 October. (Nathan Howard / Bloomberg / Getty images)
“The Chicago Fed recently introduced the indicators for labor market and what one of these is, 11 different data sources is needed, some of which are the official data, but many are the private sector and a real -time prognosis of what the next unemployment rate would be,” Goolsbee said.
“So we will lean heavily on our estimates of the recruitment speed, on our dismissals and other individual tariff estimates and on our nucast of the unemployment rate if we cannot get the official data.”
