Analyst: US government shutdown may prompt the Federal Reserve to cut rates in December
According to ChainCatcher, citing Golden Ten Data, Peter Cardillo from Spartan Capital Securities stated that gold futures are rising because the anticipated end of the U.S. government shutdown will allow government data to return to its normal release schedule. This could make it possible for the Federal Reserve to cut interest rates further in December. He added that the unreleased macroeconomic data flow may indicate that inflation remains stubborn and that labor market conditions are weaker than what the ADP report suggests. These two factors could prompt the Federal Reserve to cut rates in December, despite their repeated cautious statements.
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