{"id":82489,"date":"2025-10-06T10:09:21","date_gmt":"2025-10-06T17:09:21","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=82489"},"modified":"2025-10-06T10:09:29","modified_gmt":"2025-10-06T17:09:29","slug":"weekly-economics-update-october-6","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/weekly-economics-update-october-6\/","title":{"rendered":"Redfin Economists\u2019 Weekly Take: All Eyes on Fed Speeches as Markets Continue to Fly Data-Blind"},"content":{"rendered":"<h5><b>Last Week In A Nutshell<\/b><\/h5>\n<p><span style=\"font-weight: 400;\">Rates eased due to a surprisingly negative ADP jobs report, which stayed in the spotlight as the government shutdown sidelined the official jobs report.<\/span><\/p>\n<h5><b>Upcoming Attractions<\/b><\/h5>\n<ul>\n<li><b>Jobless claims (Thursday):<\/b><span style=\"font-weight: 400;\"> Expected to stay in the 220,000 range, similar to the last few years.<\/span><\/li>\n<li><b>University of Michigan consumer sentiment (Friday):<\/b><span style=\"font-weight: 400;\"> Expected to fall slightly from the recent low levels while consumer inflation expectations are expected to rise slightly.<\/span><\/li>\n<li><b>Fed:<\/b>\n<ul>\n<li><i><span style=\"font-weight: 400;\">FOMC minutes:<\/span><\/i><span style=\"font-weight: 400;\"> Minutes from the September Fed meeting will be analyzed to see how officials discussed the path of rates for the rest of this year<\/span><\/li>\n<li><i><span style=\"font-weight: 400;\">Fed speak:<\/span><\/i><span style=\"font-weight: 400;\"> There are 18 scheduled speeches for Fed officials this week, with Chair Powell scheduled to speak on Thursday morning.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li style=\"list-style-type: none;\"><\/li>\n<\/ul>\n<h5><b>Last Week\u2019s Highlights<\/b><\/h5>\n<ul>\n<li><b>ADP jobs report:<\/b><span style=\"font-weight: 400;\"> The ADP report showed the economy lost 32,000 jobs in September vs expectations of a 50,000 gain. While the quality of the ADP report has improved over time, it often deviates significantly from the official jobs report.<\/span><\/li>\n<li><b>JOLTS report:<\/b><span style=\"font-weight: 400;\"> As expected, job openings stayed flat at 7.2 million.<\/span><\/li>\n<li><b>ISM: <\/b><span style=\"font-weight: 400;\">ISM services PMI fell to 50 in September from 52 the previous month and below expectations of 51.7\u2014indicating less activity than expected in the services sector.<\/span><\/li>\n<li><b>Housing data:<\/b>\n<ul>\n<li><i><span style=\"font-weight: 400;\">Pending sales:<\/span><\/i><span style=\"font-weight: 400;\"> NAR reported that pending home sales increased 4% month over month and 3.8% year over year. The headlines blew the increase out of context. Much of the outsized increase month over month is because this index unexpectedly fell last time. The year over year increase is mostly because last August was very soft. Home sales continue to bounce along the bottom and we have yet to see a meaningful pick up.<\/span><\/li>\n<li><i><span style=\"font-weight: 400;\">Case-Shiller Home Price index: <\/span><\/i><span style=\"font-weight: 400;\">As expected, annual growth for home prices fell to 1.8%.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li style=\"list-style-type: none;\"><\/li>\n<\/ul>\n<h5><b>Diving a Little Deeper<\/b><\/h5>\n<ul>\n<li aria-level=\"1\"><b>Government shutdown:<\/b>\n<ul>\n<li aria-level=\"1\"><span style=\"font-weight: 400;\">How long will this last?<\/span>\n<ul>\n<li aria-level=\"1\"><span style=\"font-weight: 400;\">It seems likely the government will re-open by mid-October. The last shutdown starting in December 2018 lasted 34 days and was the longest ever. However, the Department of Defense had already been funded. This time, if the government doesn\u2019t re-open by October 15, uniformed military would go unpaid unless the Defense Department is able to find an alternate way to pay them.<\/span><\/li>\n<\/ul>\n<\/li>\n<li><span style=\"font-weight: 400;\">What data are available?<\/span>\n<ul>\n<li><i><span style=\"font-weight: 400;\">Available:<\/span><\/i> <span style=\"font-weight: 400;\">Private sector data (e.g., NAR, MBA, ISM, Conference Board. etc), Federal Reserve data, Treasury\u2019s Daily Treasury Statement, and jobless claims from individual states that can be aggregated without the Department of Labor.<\/span><\/li>\n<li><i><span style=\"font-weight: 400;\">Not available:<\/span><\/i><span style=\"font-weight: 400;\"> Anything from the Census Bureau, Bureau of Labor Statistics (e.g., jobs report, CPI, etc.), and Bureau of Economic Analysis (e.g., GDP, PCE inflation, etc.)<\/span><\/li>\n<\/ul>\n<\/li>\n<li><span style=\"font-weight: 400;\">When will economic data be available again?<\/span>\n<ul>\n<li><span style=\"font-weight: 400;\">Once the government re-opens, data that was scheduled to be released will be released with a small delay. The statistical agencies will announce new release dates. Data that was to be collected during the shutdown and scheduled for release in the future will also be delayed as the agencies catch up.<\/span><\/li>\n<\/ul>\n<\/li>\n<li><span style=\"font-weight: 400;\">Will the quality of data released after the shutdown be affected?<\/span>\n<ul>\n<li><span style=\"font-weight: 400;\">Yes, and we will provide a careful read out after each release of where we think the biases could be.<\/span><\/li>\n<\/ul>\n<\/li>\n<li><span style=\"font-weight: 400;\">What are the consequences to the economy of \u201cflying blind\u201d?<\/span>\n<ul>\n<li><span style=\"font-weight: 400;\">We still have lots of alternative data sources for economists to parse, but these often come with many more drawbacks than the official statistics. For our purposes, the main question is what the Fed decides to do if it doesn\u2019t have the October data before their October 29 meeting. They will likely proceed with a 25 bps cut.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>Housing market reports from Redfin:<\/b>\n<ul>\n<li aria-level=\"1\"><a href=\"https:\/\/www.redfin.com\/news\/price-drops-record-rate-august-2025\/\"><span style=\"font-weight: 400;\">Home Sellers Are Cutting Prices at a Record Rate to Lure Skittish Buyers<\/span><\/a>\n<ul>\n<li aria-level=\"1\"><span style=\"font-weight: 400;\">The typical home that sold in August went for nearly 4% under its asking price\u2013the steepest discount for that month since 2019.<\/span><\/li>\n<\/ul>\n<\/li>\n<li><a href=\"https:\/\/www.redfin.com\/news\/luxury-homes-market-august-2025\/\"><span style=\"font-weight: 400;\">Typical U.S. Luxury Home Price Rises 4% to $1.25M as Sales Fall to Lowest August Level in Over a Decade<\/span><\/a>\n<ul>\n<li><span style=\"font-weight: 400;\">The typical U.S. luxury home sold for $1,250,000 in August, up 3.9% from a year earlier.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Luxury home sales fell 0.7% to the lowest August level in Redfin\u2019s records, which go back to 2013. Non-luxury home sales also fell (-0.6%) to the lowest August level on record.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">The typical luxury home sold in 46 days in August, three days slower than a year ago. In comparison, non-luxury home sales typically took 40 days to go under contract, up from 33 days last year.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Luxury home prices grew the most in West Palm Beach, FL (+15%), and fell the most in Tampa, FL (-5.5%).<\/span><\/li>\n<\/ul>\n<\/li>\n<li><a href=\"https:\/\/www.redfin.com\/news\/starter-home-report-august-2025\/\"><span style=\"font-weight: 400;\">Starter-Home Sales Up 4% as Demand for Higher-Priced Options Stumbles<\/span><\/a>\n<ul>\n<li><span style=\"font-weight: 400;\">The median sale price of starter homes hit a record $260,508 in August, up 2.2% from a year earlier.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Starter-home sales grew 3.8% year over year, rising for the 12th consecutive month to the highest August level in three years. In comparison, sales of mid- and high-price homes fell 0.6% and 1.2% respectively.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Providence, RI recorded a 25% spike in starter-home sales, leading all major metros. San Antonio recorded the biggest drop (-10%).<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Last Week In A Nutshell Rates eased due to a surprisingly negative ADP jobs report, which stayed in the spotlight as the government shutdown sidelined the official jobs report. Upcoming Attractions Jobless claims (Thursday): Expected to stay in the 220,000 range, similar to the last few years. University of Michigan consumer sentiment (Friday): Expected to [&hellip;]<\/p>\n","protected":false},"author":13558,"featured_media":82490,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[632],"tags":[36,623],"dashboard":[],"coauthors":[622],"class_list":["post-82489","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-from-our-economists","tag-economics","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>All Eyes on Fed Speeches as Market Continues to Fly Data-Blind<\/title>\n<meta name=\"description\" content=\"There are still lots of alternative data sources for economists to parse, but these often come with many more drawbacks than the official government statistics. The main question is what the Fed decides to do if it doesn\u2019t have October data before their October 29 meeting.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.redfin.com\/news\/weekly-economics-update-october-6\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Redfin Economists\u2019 Weekly Take: All Eyes on Fed Speeches as Markets Continue to Fly Data-Blind\" \/>\n<meta property=\"og:description\" content=\"There are still lots of alternative data sources for economists to parse, but these often come with many more drawbacks than the official government statistics. The main question is what the Fed decides to do if it doesn\u2019t have October data before their October 29 meeting.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.redfin.com\/news\/weekly-economics-update-october-6\/\" \/>\n<meta property=\"og:site_name\" content=\"Redfin Real Estate News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/redfin\" \/>\n<meta property=\"article:published_time\" content=\"2025-10-06T17:09:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-10-06T17:09:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/jakub-zerdzicki-ip7GFn5JqX8-unsplash-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1799\" \/>\n\t<meta property=\"og:image:height\" content=\"1200\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Chen Zhao\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@redfin\" \/>\n<meta name=\"twitter:site\" content=\"@redfin\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Chen Zhao\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/weekly-economics-update-october-6\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/weekly-economics-update-october-6\\\/\"},\"author\":{\"name\":\"Chen Zhao\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/person\\\/a0a62ede97b24e6f17c1cffb6ffdd574\"},\"headline\":\"Redfin Economists\u2019 Weekly Take: All Eyes on Fed Speeches as Markets Continue to Fly Data-Blind\",\"datePublished\":\"2025-10-06T17:09:21+00:00\",\"dateModified\":\"2025-10-06T17:09:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/weekly-economics-update-october-6\\\/\"},\"wordCount\":821,\"publisher\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/weekly-economics-update-october-6\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2025\\\/10\\\/jakub-zerdzicki-ip7GFn5JqX8-unsplash-scaled.jpg\",\"keywords\":[\"Economics\",\"national\"],\"articleSection\":[\"From Our Economists\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2025\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/weekly-economics-update-october-6\\\/\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/weekly-economics-update-october-6\\\/\",\"name\":\"All Eyes on Fed Speeches as Market Continues to Fly Data-Blind\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/weekly-economics-update-october-6\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/weekly-economics-update-october-6\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2025\\\/10\\\/jakub-zerdzicki-ip7GFn5JqX8-unsplash-scaled.jpg\",\"datePublished\":\"2025-10-06T17:09:21+00:00\",\"dateModified\":\"2025-10-06T17:09:29+00:00\",\"description\":\"There are still lots of alternative data sources for economists to parse, but these often come with many more drawbacks than the official government statistics. The main question is what the Fed decides to do if it doesn\u2019t have October data before their October 29 meeting.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/weekly-economics-update-october-6\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.redfin.com/news\\\/weekly-economics-update-october-6\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/weekly-economics-update-october-6\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2025\\\/10\\\/jakub-zerdzicki-ip7GFn5JqX8-unsplash-scaled.jpg\",\"contentUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2025\\\/10\\\/jakub-zerdzicki-ip7GFn5JqX8-unsplash-scaled.jpg\",\"width\":1799,\"height\":1200},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/weekly-economics-update-october-6\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.redfin.com/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Redfin Economists\u2019 Weekly Take: All Eyes on Fed Speeches as Markets Continue to Fly Data-Blind\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#website\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/\",\"name\":\"Redfin Real Estate News\",\"description\":\"The latest real estate news and research from technology-powered residential real estate company, Redfin.\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.redfin.com/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\",\"name\":\"Redfin\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.redfin.com\\\/news\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/Redfin-News-Logo.png\",\"contentUrl\":\"https:\\\/\\\/www.redfin.com\\\/news\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/Redfin-News-Logo.png\",\"width\":1100,\"height\":235,\"caption\":\"Redfin\"},\"image\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/redfin\",\"https:\\\/\\\/x.com\\\/redfin\",\"https:\\\/\\\/www.instagram.com\\\/redfinrealestate\\\/\",\"https:\\\/\\\/www.linkedin.com\\\/company\\\/redfin\",\"https:\\\/\\\/www.pinterest.com\\\/redfin\\\/\",\"https:\\\/\\\/en.wikipedia.org\\\/wiki\\\/Redfin\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/person\\\/a0a62ede97b24e6f17c1cffb6ffdd574\",\"name\":\"Chen Zhao\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/Chen_Zhao-150x150.jpg83fdc0124d9fcdfe5e5d8583a850a63f\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/Chen_Zhao-150x150.jpg\",\"contentUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/Chen_Zhao-150x150.jpg\",\"caption\":\"Chen Zhao\"},\"description\":\"Chen Zhao is the head of economics research, where she produces research on the housing market for public and internal audiences. Previously, she was an executive director leading housing finance and financial markets research at the JPMorgan Chase Institute. Prior to joining JPMCI, Chen was an economics consultant at Analysis Group, Inc., where she worked on financial litigation cases and led teams conducting health economics and outcomes research on behalf of pharmaceutical companies. While in graduate school, Chen was with the Center for Economic Studies and the Social Economic and Housing Statistics Division at the US Census Bureau, where she conducted applied microeconomics research using large scale restricted-access linked survey-administrative data. She started her career at the White House Council of Economic Advisers, where she focused on labor and health economics.\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/author\\\/chen-zhao\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"All Eyes on Fed Speeches as Market Continues to Fly Data-Blind","description":"There are still lots of alternative data sources for economists to parse, but these often come with many more drawbacks than the official government statistics. The main question is what the Fed decides to do if it doesn\u2019t have October data before their October 29 meeting.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.redfin.com\/news\/weekly-economics-update-october-6\/","og_locale":"en_US","og_type":"article","og_title":"Redfin Economists\u2019 Weekly Take: All Eyes on Fed Speeches as Markets Continue to Fly Data-Blind","og_description":"There are still lots of alternative data sources for economists to parse, but these often come with many more drawbacks than the official government statistics. The main question is what the Fed decides to do if it doesn\u2019t have October data before their October 29 meeting.","og_url":"https:\/\/www.redfin.com\/news\/weekly-economics-update-october-6\/","og_site_name":"Redfin Real Estate News","article_publisher":"https:\/\/www.facebook.com\/redfin","article_published_time":"2025-10-06T17:09:21+00:00","article_modified_time":"2025-10-06T17:09:29+00:00","og_image":[{"width":1799,"height":1200,"url":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/jakub-zerdzicki-ip7GFn5JqX8-unsplash-scaled.jpg","type":"image\/jpeg"}],"author":"Chen Zhao","twitter_card":"summary_large_image","twitter_creator":"@redfin","twitter_site":"@redfin","twitter_misc":{"Written by":"Chen Zhao","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.redfin.com\/news\/weekly-economics-update-october-6\/#article","isPartOf":{"@id":"https:\/\/www.redfin.com\/news\/weekly-economics-update-october-6\/"},"author":{"name":"Chen Zhao","@id":"https:\/\/www.redfin.com\/news\/#\/schema\/person\/a0a62ede97b24e6f17c1cffb6ffdd574"},"headline":"Redfin Economists\u2019 Weekly Take: All Eyes on Fed Speeches as Markets Continue to Fly Data-Blind","datePublished":"2025-10-06T17:09:21+00:00","dateModified":"2025-10-06T17:09:29+00:00","mainEntityOfPage":{"@id":"https:\/\/www.redfin.com\/news\/weekly-economics-update-october-6\/"},"wordCount":821,"publisher":{"@id":"https:\/\/www.redfin.com\/news\/#organization"},"image":{"@id":"https:\/\/www.redfin.com\/news\/weekly-economics-update-october-6\/#primaryimage"},"thumbnailUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/jakub-zerdzicki-ip7GFn5JqX8-unsplash-scaled.jpg","keywords":["Economics","national"],"articleSection":["From Our Economists"],"inLanguage":"en-US","copyrightYear":"2025","copyrightHolder":{"@id":"https:\/\/www.redfin.com\/news\/#organization"}},{"@type":"WebPage","@id":"https:\/\/www.redfin.com\/news\/weekly-economics-update-october-6\/","url":"https:\/\/www.redfin.com\/news\/weekly-economics-update-october-6\/","name":"All Eyes on Fed Speeches as Market Continues to Fly Data-Blind","isPartOf":{"@id":"https:\/\/www.redfin.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.redfin.com\/news\/weekly-economics-update-october-6\/#primaryimage"},"image":{"@id":"https:\/\/www.redfin.com\/news\/weekly-economics-update-october-6\/#primaryimage"},"thumbnailUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/jakub-zerdzicki-ip7GFn5JqX8-unsplash-scaled.jpg","datePublished":"2025-10-06T17:09:21+00:00","dateModified":"2025-10-06T17:09:29+00:00","description":"There are still lots of alternative data sources for economists to parse, but these often come with many more drawbacks than the official government statistics. The main question is what the Fed decides to do if it doesn\u2019t have October data before their October 29 meeting.","breadcrumb":{"@id":"https:\/\/www.redfin.com\/news\/weekly-economics-update-october-6\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.redfin.com\/news\/weekly-economics-update-october-6\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.redfin.com\/news\/weekly-economics-update-october-6\/#primaryimage","url":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/jakub-zerdzicki-ip7GFn5JqX8-unsplash-scaled.jpg","contentUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/jakub-zerdzicki-ip7GFn5JqX8-unsplash-scaled.jpg","width":1799,"height":1200},{"@type":"BreadcrumbList","@id":"https:\/\/www.redfin.com\/news\/weekly-economics-update-october-6\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.redfin.com\/news\/"},{"@type":"ListItem","position":2,"name":"Redfin Economists\u2019 Weekly Take: All Eyes on Fed Speeches as Markets Continue to Fly Data-Blind"}]},{"@type":"WebSite","@id":"https:\/\/www.redfin.com\/news\/#website","url":"https:\/\/www.redfin.com\/news\/","name":"Redfin Real Estate News","description":"The latest real estate news and research from technology-powered residential real estate company, Redfin.","publisher":{"@id":"https:\/\/www.redfin.com\/news\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.redfin.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.redfin.com\/news\/#organization","name":"Redfin","url":"https:\/\/www.redfin.com\/news\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.redfin.com\/news\/#\/schema\/logo\/image\/","url":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2020\/10\/Redfin-News-Logo.png","contentUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2020\/10\/Redfin-News-Logo.png","width":1100,"height":235,"caption":"Redfin"},"image":{"@id":"https:\/\/www.redfin.com\/news\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/redfin","https:\/\/x.com\/redfin","https:\/\/www.instagram.com\/redfinrealestate\/","https:\/\/www.linkedin.com\/company\/redfin","https:\/\/www.pinterest.com\/redfin\/","https:\/\/en.wikipedia.org\/wiki\/Redfin"]},{"@type":"Person","@id":"https:\/\/www.redfin.com\/news\/#\/schema\/person\/a0a62ede97b24e6f17c1cffb6ffdd574","name":"Chen Zhao","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/09\/Chen_Zhao-150x150.jpg83fdc0124d9fcdfe5e5d8583a850a63f","url":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/09\/Chen_Zhao-150x150.jpg","contentUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/09\/Chen_Zhao-150x150.jpg","caption":"Chen Zhao"},"description":"Chen Zhao is the head of economics research, where she produces research on the housing market for public and internal audiences. Previously, she was an executive director leading housing finance and financial markets research at the JPMorgan Chase Institute. Prior to joining JPMCI, Chen was an economics consultant at Analysis Group, Inc., where she worked on financial litigation cases and led teams conducting health economics and outcomes research on behalf of pharmaceutical companies. While in graduate school, Chen was with the Center for Economic Studies and the Social Economic and Housing Statistics Division at the US Census Bureau, where she conducted applied microeconomics research using large scale restricted-access linked survey-administrative data. She started her career at the White House Council of Economic Advisers, where she focused on labor and health economics.","url":"https:\/\/www.redfin.com\/news\/author\/chen-zhao\/"}]}},"_links":{"self":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/posts\/82489","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/users\/13558"}],"replies":[{"embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/comments?post=82489"}],"version-history":[{"count":5,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/posts\/82489\/revisions"}],"predecessor-version":[{"id":82495,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/posts\/82489\/revisions\/82495"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/media\/82490"}],"wp:attachment":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/media?parent=82489"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/categories?post=82489"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/tags?post=82489"},{"taxonomy":"dashboard","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/dashboard?post=82489"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/coauthors?post=82489"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}