FAST FIVE: Key Events This Week: PCE, Durables And A Barrage Of Fed Speakers
For the other two data points, DB forecasts a +0.1% MoM increase for both income and consumption.
Meanwhile, EU energy ministers will meet again on Friday regarding the emergency intervention amid elevated energy prices.
And while Chair Powell had emphasized in the July press conferences that the FOMC is aiming for below-potential growth, not a recession, he dropped the latter half of that point this time.
08:35 PM San Francisco President Mary Daly (FOMC non-voter) speaks: San Francisco Fed President Mary Daly will take part in a moderated Q&A at a banking symposium in Singapore.
On August 6th, Governor Bowman noted that “similarly-sized increases” in the federal funds rate to the FOMC's 75bp hikes in June and July “should be on the table until we see inflation declining in a consistent, meaningful, and lasting way.” 02:00 PM Chicago Fed President Evans (FOMC non-voter) speaks: Chicago Fed President Charles Evans will discuss the economic outlook during an event hosted by the London School of Economics.