The Economic Week Ahead: Jobs, Inflation, & More Uncertainty
Description
Yesterday, I broke down the week ahead:
At 8:30 today, the BLS releases its preliminary revision estimate to employment for the year through March. This revision, which is based on a more accurate data set, will give us an even clearer indication of the weaken in the jobs market.
Economists anticipate a downward adjustment of anywhere from 475k to 900k fewer jobs during this period.
The markets have a 25 basis point interest rate cut by the Federal Reserve practically built in, so a downside surprise in the BLS employment number could raise the ante, forcing the Fed into a 50 basis point cut.
We’ll have a better picture of inflation later this week with the Producer Price Index (PPI) on Wednesday, and the Consumer Price Index (CPI) on Thursday. Both numbers could add to the Fed’s calculations on interest rates.
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