What to Look Out for in Economic Data This Week (July…

What to Look Out for in Economic Data This Week (July 6-10)

Calendar sitting next to stacks of coins and calculator.

Wall Street returns from the long holiday weekend to a light economic calendar. Among the most notable releases this week will be the minutes from the Federal Reserve's June meeting, the first with Kevin Warsh at the helm.

The new Fed chair has made clear that he is no fan of forecasts from central bankers, as evidenced by his choice not to participate in the quarterly dot plot, so the minutes will give a closer read on the behind-the-scenes action.

Economic reports we're watching

Wednesday, July 8: Federal Open Market Committee (FOMC) meeting minutes: Wall Street will be looking for hints on the Fed's plans for interest rates.

Read on to see the entire weekly economic calendar of the most important upcoming economic reports scheduled to be released in 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. All reporting times are in Eastern Time.

Monday (7/6)

Noteworthy economic reports
Time released	Economic report	Period
9:45 am	S&P Global Final Services Purchasing Managers Index (PMI)	June
10 am	Institute for Supply Management Services PMI	June

Tuesday (7/7)

Noteworthy economic reports
Time released	Economic report	Period
8:30 am	Trade balance	May

Wednesday (7/8)

Noteworthy economic reports
Time released	Economic report	Period
10 am	Final wholesale inventories	May
2 pm	Federal Open Market Committee (FOMC) meeting minutes	N/A
3 pm	Consumer credit	May

Will the Fed meeting minutes give clues to future monetary policy?

The June Fed meeting was a key economic event as market participants were anxious to see how the central bank — now being led by new Chair Kevin Warsh — would respond to higher inflation as a result of spiking energy costs.

The answer to that question was a pause. "We recognize that inflation has been running well ahead of the Fed's long-stated inflation goal of 2 percent that's been going on for more than five years," Warsh said in his post-meeting press conference. "Persistently high prices are a burden for the American people."

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Warsh also noted that the slimmed-down FOMC statement reflected the removal of "so-called forward guidance," which the Fed chair said he and the committee "agreed was not well suited to the current policy conjuncture."

The dot plot, which Warsh did not participate in, showed mixed outlooks among committee members. That leaves Wednesday's release of the Fed meeting minutes as one way for Wall Street to speculate on what the central bank will do next with interest rates.