The economic calendar is jam-packed with key events, most notably the next Fed meeting. The central bank will kick off its gathering on Tuesday with a policy statement expected on Wednesday. While no rate cut is expected this time, all eyes will be on Fed Chief Jerome Powell's presser and Friday's monthly jobs report to see if a September cut is in the cards.
You can read on to see the entire weekly economic calendar of the most important upcoming economic reports scheduled to be released over the next several days. At times, we provide expanded previews and recaps for select reports.
Please check back often. This economic calendar is updated regularly. Bolded reports are those considered more noteworthy and all reporting times are in Eastern Time.
Economic calendar highlights
Monday (7/29)
There are no noteworthy economic reports slated for release on Monday, July 29.
Tuesday (7/30)
Wednesday (7/31)
Wall Street waits for rate-cut clues
The biggest event on the earnings calendar is the Fed meeting. The central bank will issue its policy statement at 2 pm, which will be followed by Fed Chair Powell's press conference at 2:30 pm.
Deutsche Bank economists expect the statement to "undergo some dovish edits, recognizing clearer evidence of cooling inflation and acknowledging that risks to the dual mandate are moving into better balance." The group also thinks "the forward guidance language could also be tweaked to signal the Committee is closer to the first rate cut."
According to CME Group's FedWatch Tool, futures traders are pricing in a 95% chance the Fed will keep interest rates steady this time around and an 88% probability for a quarter-point rate cut in September.
Thursday (8/1)
Friday (8/2)
Fed meeting followed by July jobs report
The June jobs report showed a slowdown in hiring while the numbers for both the April and May reports were downwardly revised. Additionally, the unemployment rate ticked higher in June, while average hourly earnings – a key measure of inflation – was unchanged month-over month.
The data likely gives "the Federal Reserve one of the puzzle pieces it needs to set the stage to start cutting interest rates this fall," says Kiplinger economist David Payne in his jobs outlook.
As for the July jobs report, BofA Securities economist Michael Gapen expects nonfarm payrolls to grow by 225,000 and the unemployment rate to stay unchanged at 4.1%.
Reporting schedules are provided Forex Factory and MarketWatch.
