Fed’s Goolsbee Says Lack of Data During Shutdown Is ‘Problematic’ for Central Bankers

Federal Reserve Bank of Chicago President Austan Goolsbee has expressed concerns about the impact of the ongoing US government shutdown on the central bank's ability to interpret the economy. Goolsbee stated that the lack of official data during the shutdown is "problematic" for central bankers, as they rely on this information to make informed decisions about monetary policy. The shutdown has led to the suspension of the collection and release of key economic data, including the employment report and other crucial indicators. Goolsbee acknowledged that this absence of data will make it more challenging for the Federal Reserve to assess the current state of the economy and determine the appropriate course of action. The Federal Reserve's decision-making process is heavily dependent on the availability of accurate and timely economic data. Goolsbee's comments highlight the potential disruptions that the government shutdown could have on the central bank's ability to effectively monitor and respond to changes in the US economy.