Fed whisperer says lack of data may hinder FOMC consensus

Nick Timiraos, a reporter for The Wall Street Journal (WSJ) often described as the Fed whisperer, explained that a consensus on interest rates may be difficult for the Federal Open Market Committee (FOMC) to achieve. According to Timiraos, the September Summary of Economic Projections (SEP) showed a clear division among committee members. He noted that while a notable minority wanted further rate cuts for risk management purposes, a significant number of members saw no need for them. Timiraos added that economic data usually helps bridge such differences, but with the government shutdown halting the collection of some metrics, members have little basis to change their existing opinions.