Bank of America has adjusted its inflation forecast just before the release of the Consumer Price Index (CPI) report, indicating a shift in economic expectations as crucial data approaches. This move mirrors a similar adjustment made earlier in the year,

A big unknown ahead of the September CPI is how much the government shutdown, which started Oct. 1, impacts the data. Ten days later, statisticians at the Bureau of Labor Statistics were called back to work to complete the report.

Nearly two dozen days have passed since a federal agency has published an economic report. The US government’s shutdown has resulted in a blackout of critical data, further clouding an already opaque economic outlook.

This year, there has been much debate over how fast the Federal Reserve should cut interest rates to stabilize the jobs market, given inflation has been trending higher. So far, Fed Chairman Jerome Powell has taken a mostly wait-and-see approach to interest rates,

Discover how a cooler-than-expected CPI report and stable labor trends fuel Fed rate cut optimism and market gains. Click for more on this new data.