Stifel's Piegza Calls for Fed to Hold Rates Steady at October FOMC Meeting

11:43 AM EDT, 10/16/2025 (MT Newswires) -- With vital government data delayed due to the federal government shutdown, Stifel Chief Economist Lindsey Piegza, in a research note Thursday, urged caution when interest rate decisions are made at the next Federal Open Market Committee meeting scheduled for Oct. 28-29.

This followed comments from Federal Reserve Governors Christopher Waller and Stephen Miran earlier in the day that the risks of a weakening labor market require a response from the Fed, even when key data such as the September employment report and weekly jobless claims data have not been released.

"Of course, amid a government shutdown and a lack of updated data, Fed officials are unable to draw much of a conclusion about much of anything and therefore should arguably remain on hold, waiting for additional information before potentially further compounding a policy error with a second-round rate cut if unwarranted by the evolution of inflation and hiring conditions," Piegza wrote.

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