This Week: Consumer confidence, Fed policy statement, April jobs report

Original Article:

Source: Link

The Conference Board releases its monthly index of U.S. consumer confidence Tuesday 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. ALL ABOUT JOBS The Labor Department issues its monthly tally of hiring by nonfarm employers Friday. Economists predict that nonfarm U.S. employers added 205,000 jobs in April. That would be the fewest jobs added since November and a sharp decline from March, when the economy added 303,000 jobs and the unemployment rate dipped from 3.9% to 3.8%. Nonfarm payrolls, monthly change, seasonally adjusted: Nov. 182,000 Dec. 290,000 Jan. 256,000 Feb. 270,000 March 303,000 April (est.) 205,000 Source: FactSet