Powell warns shutdown is clouding Fed’s view of the economy: 'Driving in the fog'

Federal Reserve Chairman Jerome Powell said Wednesday it remains unclear whether the ongoing government shutdown and the resulting lack of key economic data will affect the central bank’s December meeting.

With key indicators still missing due to the shutdown, Powell said the Fed will proceed carefully until it has a clearer view of the economy.

"If you’re driving in the fog, you slow down," he said at the conclusion of the two-day Federal Open Market Committee (FOMC) meeting. The FOMC's next policy meeting is scheduled for Dec. 9–10.

Powell added that even without complete data, the central bank must continue its work.

"We're going to have to do our jobs one way or the other," Powell told reporters at the Federal Reserve . "I hope by the time of the December meeting, we're get