Economic & Market Watch

In the News

Economy

• Federal Reserve Bank of St. Louis President Alberto Musalem stated that he anticipates the U.S. economy will bounce back strongly early next year and noted that officials should carefully consider any further interest-rate cuts. Meanwhile, President of the Federal Reserve Bank of San Francisco Mary Daly said demand is likely declining while tariff-driven inflation is currently limited and cautioned against prolonged high interest rates. These comments highlight diverging views among Fed officials.
• U.S. consumer durables and personal goods inflation slowed in October for the first time in three months due to an increase in merchant discounting, according to OpenBrand price data, which monitors daily prices. The index of prices for major goods and personal-care products increased 0.22% last month, following a 0.48% rise in September.

Markets

• West Texas Intermediate crude oil futures settled just below $60/barrel as markets await the latest outlook reports from OPEC+ and the International Energy Agency this week.
• U.S. and global equity markets rallied, with major indexes in the U.S. and Europe posting gains, after the U.S. Senate advanced a funding bill toward ending the shutdown.

Current Events

• The U.S. Senate advanced a compromise funding bill aimed at reopening the government through January 2026, marking a key development in ending the shutdown and returning pay to approximately 800,000 federal employees.
• More than 1,400 flights were canceled Monday and delays are mounting as negotiations continue around ending the shutdown. The Federal Aviation Administration has ordered air traffic to be reduced at 40 major airports to help keep skies safe as the shortage of air traffic controllers deepens during the shutdown.

Meet the Team

CFC's economic research team—John Suter, Sam Kem and Antony Davies—share their expert, yet easily digestible, perspective on what you need to know.

Have feedback about the podcast? A topic you'd like the EMW team to cover? Get in touch at economicresearch@nrucfc.coop.

Source: U.S. Energy Information Administration, Trading Economics