Federal Reserve Bank of St. Louis President Alberto Musalem stated that the Federal Reserve's rate cut is the right move to support the US labor market, but caution is still needed with inflation above target.
Reports indicate that due to the US government shutdown, official labor data will not be published for several months — thus policymakers and investors are increasingly relying on alternative private data.
The US consumer confidence index fell to its lowest level in about 3 ½ years in early November, largely due to concerns about the economic impact of the government shutdown.
