Caitlin McCabe

The Journal's chief economics correspondent, Nick Timros, joins me now to discuss what we might expect from today's meeting.

Nick, thanks for being here.

We mentioned that a rate cut today seems widely expected.

Can you walk us through what the Fed is weighing as it makes this decision today?

Yeah, Nick, you make a great point.

Obviously, most notably, we haven't had the September jobs report, which the Fed usually pays close attention to.

We did have an inflation reading last week via CPI.

Is the Fed looking at these more informal indicators or estimates that have been released in the absence of official macroeconomic data due to the shutdown?

Or what are they studying as they make this decision?

What signals might we get or can we expect about the December meeting and even next year?

That's Journal Chief Economics Correspondent Nick Timros.

Nick, thanks so much for joining us.

After weeks of speculation among some of his allies about whether he would seek a third term, President Trump acknowledged that the Constitution prohibits him from doing so.

While en route to South Korea amid his swing through Asia, Trump told reporters that, quote, if you read it, it's pretty clear I'm not allowed to run, adding that, quote, it's too bad.

Trump's comments follow moves by some of his supporters, who have promoted the idea of him running in 2028.

Former Trump White House chief strategist Steve Bannon has previously said there is a plan in place for Trump to secure a third term.

And Andy Ogles, a Republican representative from Tennessee, has introduced a bill that seeks a constitutional amendment, which would allow Trump to run again.

Meanwhile, the White House has fired all members of the Commission of Fine Arts.

an independent federal agency that would be tasked with reviewing some of President Trump's construction projects.

A White House official said it is preparing to appoint a new slate of members that are, quote, more aligned with Trump's America First policies.