US Economy: Key Macro Events This Week
FOMC Meeting, CPI Data and Retail Sales Data
This week's key events for the US economy include FOMC meeting minutes on Wednesday, updated CPI data for September on Thursday, and the Retail Sales figures on Friday. Here are some notes from Credit Suisse's report.
FOMC Meeting
At the September meeting, the FOMC raised their fed funds rate target by 75bps, or 3% in the last 7 months. Powell has been quite clear that his intention is to put the long-term health of the economy top of his mind in his effort to quash inflation before it gets out of hand; remarking that “I wish there were a painless way to do that. There isn't. We have to get supply and demand back into alignment. The way we do that is by slowing the economy.”