Powell says farewell as The Fed, home prices, and inflation take center stage 👋🏦📊
The Week Ahead
WEEK AHEAD 🗓️
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The events in Iran have been the main market mover since the conflict began.
However, this week is possibly the first time in 60 days that economic data will again take center stage.
The shift in attention also comes at a time when bond markets (and mortgage rates) are looking for directional guidance after the post March 27 recovery has lost momentum.
The FOMC rate decision is delivered on Wednesday, followed by what will be Jerome Powell’s final press conference as Fed Chairman.
It might also be the last presser for a while as Fed Chair nominee Kevin Warsh has suggested discontinuing the regularly scheduled media briefings.
This week’s Mortgage Rate Impact Calendar is also packed with inflation focused reports (PCE, Employment Cost Index) and numerous manufacturing surveys (Chicago PMI, S&P PMI, ISM).
Sprinkled in for good measure is durable goods, home price data (Case Schiller, FHFA), and multiple Treasury Note auctions.
Thanks for reading.
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