If you don’t know what inflation is doing, you can’t fight it.

The BLS has announced that despite the government shut down, they will look to release the CPI data on Friday, October 24 at 8:30 AM. They added that no other releases will be rescheduled or produced until the resumption of the regular government services..

Fed’s Waller spoke earlier on inflation and the economy (and policy). Below is a summary of his comments on inflation, and also the importance of the CPI data:

Tariffs and inflation: Waller said the inflationary impact of tariffs is a one-time effect and should be looked through by policymakers.
CPI importance: He stressed that upcoming CPI data will be crucial for the Fed’s next meeting.
Inflation swings: If inflation rises temporarily and then falls back, it should not influence monetary policy.
Policy stance: The Fed still needs to cut rates, but will do so cautiously and gradually, in quarter-point steps, rather than aggressively.