
The Kobeissi Letter|Oct 03, 2025 04:44
There will be NO jobs report tomorrow.
2 weeks after the Fed cut rates due to a weak labor market, jobs data has been indefinitely suspended.
Until the government shutdown ends, there will be no BLS labor data.
We're 26 days from the next Fed meeting with tomorrow's suspended jobs report being the final one before their next meeting.
So, the Fed is cutting rates into rising inflation due to a weak labor market, but we can no longer receive KEY labor market data.
And, when we do receive the data, it is revised down 2 times before it's considered "accurate."
The system is broken.(The Kobeissi Letter)
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