The week ahead is heavy on housing data, which has been red hot due to low inventory, rising input costs, and high demand. Additionally, we will get the flash PMI readings for the manufacturing and services industries.
The most widely watched release will be the release of the FOMC’s September meeting announcement and Federal Reserve Chairman Jerome Powell’s follow up press conference. Inflation (CPI) has slowed in recent months which follow’s the Federal Reserve’s (Fed) stance that high inflation is temporary. Will the recent cooling of prices take pressure off the Fed to start tapering asset purchases later this year? The tapering question, along with any new signals regarding interest rate hikes and economic projections will be the highlights of the announcement.
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