Fed meeting minutes, consumer price index, big bank earns
A look at some of the key business events and economic indicators upcoming this week:
FED IN FOCUS
The Federal Reserve releases minutes from its most recent interest rate policy meeting Wednesday.
At last month’s meeting Fed officials raised the central bank’s key interest rate by three-quarters of a percent and signaled more big hikes to come. The Fed has been raising borrowing rates in a bid to crush the highest inflation in decades. The risk is that if the Fed goes too far, it could squeeze the economy into a recession.
The Labor Department delivers its September snapshot of consumer inflation Thursday.
Americans continue to face higher costs, reflected in a run of sharp annual increases in the consumer price index since summer last year. Prices for U.S. consumers jumped 8.3% in August from a year earlier. That followed annual increases of 8.5% in July and 9.1% in June. Economists predict the consumer price index rose 8.1% in the 12 months ended in September.
Consumer price index, annual percent change, not seasonally adjusted:
Sept. (est.) 8.1
Wall Street expects that JPMorgan Chase’s latest quarterly report card will show mixed results.
Analysts predict the nation’s largest bank by assets will report Friday that its third-quarter earnings declined from a year earlier, even as revenue increased. The bank’s profit also fell in the first and second quarters of this year. The bank is trying to navigate an economy that’s losing steam as interest rates continue to rise, hitting consumers and corporations alike.
Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.