The ongoing government shutdown prevented the Bureau of Labor Statistics from releasing its September jobs report Friday, but job growth appears to be softening. The lack of reliable government data comes as the Federal Reserve mulls further interest rate cuts. 

The Supreme Court said Wednesday that it would defer President Donald Trump's request for a stay until after oral arguments scheduled for January 2026, allowing Federal Reserve Governor Lisa Cook to remain on the board at least until then.

Federal Reserve Vice Chair Philip Jefferson said despite the near term cloudiness to economic projections, he does expect inflation to resume its downward trajectory next year and reach the Fed's 2% inflation target in the coming years.

Seven filings were submitted in response to President Donald Trump's request for the Supreme Court to remove barriers from ousting Federal Reserve Gov. Lisa Cook before litigation proceeds. Most filings argued for the Court to deny the president's application.

Federal Reserve Bank of Kansas City President Jeff Schmid said that the central bank should continue its focus on curbing inflation, as the job market is "largely in balance."

Federal Reserve Chair Jerome Powell said in a speech Tuesday that the central bank's policy stance is "modestly restrictive," a stance that will give the central bank flexibility to react to an uncertain economic future.

Federal Reserve Vice Chair for Supervision Michelle Bowman said in a speech Tuesday that steeper interest rate cuts should be on the table if the labor market continues to show signs of decline.

The Supreme Court will hear a case in December that could overturn a longstanding precedent bolstering regulatory independence. Should the court strike down that precedent, it could have major implications for the independence of the Federal Reserve.

Prior to this week's Federal Open Market Committee meeting, many onlookers thought a Trump-aligned and oppositional voting bloc could emerge, complicating the central bank's message. But the quarterly economic projections show that not to be the case.

MSR investment persists and some values have stabilized since policymakers' rate cut confirmed anticipatory loan pricing, flattening some mortgage rates.

President Donald Trump asked the Supreme Court to reverse a lower court ruling allowing Federal Reserve Gov. Lisa Cook to remain in office pending the outcome of her lawsuit challenging Trump's move to fire her late last month.

Federal Reserve Chair Jerome Powell said there was a "high degree of unity" among committee members during this week's Federal Open Market Committee vote. Out of 12 FOMC members, 11 voted for a 25 basis point cut.

The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.

The Federal Reserve is widely expected to lower interest rates, but questions about how big of a cut and the trajectory for future cuts remain uncertain — and the White House's power struggle with the central bank is a complicating factor.

Market watchers expect the Federal Open Market Committee to announce a 25 basis point rate cut today, but are also watching for signals of more cuts to come and how many members push for a larger 50 basis point cut.

Housing finance firms have anticipated a 25 basis point move, so what could move the needle is less that outcome than actions that go beyond or differ from it.

If the Fed reinvested the roughly $18 billion in monthly "roll-off" into new MBS, it could compress mortgage spreads, the investment management firm said.

The White House said it will appeal a circuit court ruling allowing Federal Reserve Gov. Lisa Cook to remain on the central bank board while her lawsuit challenging her dismissal is litigated.

If the appeals court denies the Justice Department's request for a so-called stay order, the president is likely to immediately ask the Supreme Court to intervene.

Federal Reserve Governor Lisa Cook described an Atlanta property at the center of a lawsuit over her attempted ouster as a "vacation home," according to documents viewed by Bloomberg News.