ECONOMIC WEEK AHEAD: November 10-14

On October 29, Fed Chair Jerome Powell said, "[W]hat do you do if you're driving in the fog? You slow down." He was referring to the lack of economic data due to the government shutdown. The Fed and the financial markets now have been deprived of two monthly employment reports. Add to the shutdown casualties list the October PPI and CPI, which would've dispelled some of the fog.

All this is complicating the debate about whether the Fed might cut rates next month for what would be a third time in 2025. It also adds drama to Fed speaking engagements in the days ahead. They include Governors Michael Barr opining on artificial intelligence and innovation (Tue), Christopher Waller speaking on payments (Wed), and Stephen Miran (Wed) speaking generally in a fireside chat over in the UK.