This Week: Consumer confidence, Fed policy statement, April jobs report
A look at some of the key business events and economic indicators upcoming this week
EYE ON CONSUMERS
The Conference Board releases its latest monthly index of U.S. consumer confidence Tuesday.
The March reading ticked down to 104.7 from 105.8 the previous month, suggesting consumer confidence is holding steady even as Americans wrestle with higher prices and feel less optimistic about the future. Economists expect the April reading slipped again. Consumer spending accounts for about 70% of U.S. economic activity, so economists pay close attention to consumer behavior.
Consumer confidence, by month:
Nov. 101.0
Dec. 108
Jan. 110.9
Feb. 104.8
March 104.7
April (est.) 104.0
Source: FactSet
THE FED SPEAKS
The Federal Reserve delivers its latest interest rate policy update Wednesday following a two-day meeting of its policymakers.
At its meeting last month, Fed officials signaled that they still expected to cut their key interest rate three times this year, despite signs that inflation remained elevated. More recently, however, Fed Chair Jerome Powell has cautioned that persistently elevated inflation will likely delay any Fed interest rate cuts until later this year, opening the door to a period of higher-for-longer rates.