Fed Data Gap Clouds Policy Outlook as Bank Capital Issuance Declines

The Fed cut rates by 25 bps points this afternoon. However, the ongoing government shutdown has delayed key labor and inflation data that could influence future policy decisions, S&P Global Market Intelligence wrote. Some analysts think the absence of official reports could cause the Fed to take a more cautious stance heading into December and early 2026.

Another S&P article discusses how total U.S. bank capital offerings fell 82.7% from the prior quarter to $4.97 billion, as a steep drop in senior debt issuance offset higher common and subordinated equity offerings.