A look at some of the major trade events and economic indicators to come this week:
AN EYE ON THE FEDERATION
The Federal Reserve wraps up a two-day meeting of policymakers with an economic policy and interest rate update on Wednesday.
Most analysts expect Fed officials to announce the first of several expected increases in the central bank’s short-term interest rate as the Fed moves to counter a sharp acceleration in consumer prices. Inflation has hit its highest pace in four decades, hammering household budgets and wiping out the benefits of rising wages.
FedEx will release its fiscal third quarter results on Thursday.
Wall Street expects the package delivery company’s earnings and revenue to rise in the December-February quarter from a year earlier. That would be a strong performance for FedEx, which posted flat second-quarter earnings and declining first-quarter earnings.
HOUSING MARKET BAROMETER
The National Association of Realtors releases its latest monthly overview of U.S. home sales on Friday.
Economists predict that sales of previously occupied US homes slowed to a seasonally adjusted annual rate of 6.1 million properties last month. That would follow an annual pace of 6.5 million homes in January, when a growing number of buyers with cash and others eager to avoid higher mortgage rates snapped up properties.
Sales of existing homes, in millions, seasonally adjusted annual rate:
September 6, 18
October 6, 19
6 December 09
January 6 50
Feb. (est.) 6.10