The widely watched CME Group FedWatch Tool shows a 97.8% chance of a quarter-percentage point reduction to the Federal Funds Rate during the Federal Open Market Committee meeting Oct. 29, which would bring the federal funds target to about 3.75% to 4.00%.

"While Americans are struggling to make ends meet, federal workers are going without pay, and millions of families are bracing for soaring health care costs, the President is leaving the country," Schumer said in a statement. "America is shut down and the President is skipping town."

The extended government shutdown has put collecting most October inflation data out of reach for the Bureau of Labor Statistics, according to people familiar with the agency’s operations.

The Federal Reserve might be set to cut interest rates next week, but it doesn't mean the September consumer-price index doesn't matter. The government shutdown, now in its third week, almost certainly means there will be no CPI or other inflation reports for October.

The Federal Reserve is expected to move forward with another rate cut on Wednesday despite an economic data blackout due to the government shutdown.

Roughly 750,000 furloughed government workers already feel crimped by the shutdown as they suffer missed paychecks and strained budgets. Those direct effects will grow dramatically on Nov. 1, when millions of low-income Americans are set to lose access to critical food assistance.

Inflation rose in September. The Bureau of Labor Statistics released CPI data during the government shutdown, which has affected some operations.

Nearly two dozen days have passed since a federal agency has published an economic report. The US government’s shutdown has resulted in a blackout of critical data, further clouding an already opaque economic outlook.