Federal Reserve Chair Powell to Provide Economic Update
- Wall Street economists expect smallest increase in core inflation since December
- Retail sales expected to moderate in April
- Federal Reserve Chair Powell to update views on U.S. economy and interest rates
- April CPI inflation expected to rise 0.4% for the third straight month
- Core inflation forecasted to rise 0.3%, the lowest rate since December
- Gasoline prices and medical-care costs could impact CPI index
- Economists still expect inflation to trend lower this year
- April retail sales expected to gain 0.5%, excluding autos
- Weekly jobless claims expected to fall by 12,000
This week, Wall Street economists are closely watching the release of key economic reports. The focus is on the April consumer price index (CPI) and retail sales. Economists expect a small increase in core inflation, the lowest since December, while retail sales are predicted to moderate after a strong gain in March. Federal Reserve Chair Powell will also provide an update on the U.S. economy and interest rates. The CPI data, expected to rise 0.4% for the third consecutive month, will be released before Powell’s speech. Economists believe that despite the recent uptick in inflation, it will trend lower throughout the year. Additionally, April retail sales are expected to gain 0.5%, excluding autos. Lastly, weekly jobless claims are anticipated to fall by 12,000, retracing the previous week’s unexpected increase. All eyes are on these reports as they provide insights into the strength of the labor market and potential paths for interest-rate cuts.
Factuality Level: 3
Factuality Justification: The article provides a detailed overview of upcoming economic indicators in the U.S. and includes quotes from various economists. However, it lacks depth in analysis and fails to provide a balanced view of the potential outcomes. The article also includes some speculative statements and predictions without strong evidence to support them.
Noise Level: 3
Noise Justification: The article provides a detailed analysis of upcoming economic indicators in the U.S., focusing on the consumer price index, interest rates, inflation, retail sales, and jobless claims. It includes insights from various economists and experts, as well as expectations and potential outcomes for each indicator. The information is relevant and focused, supported by data and expert opinions, making it a valuable resource for those interested in economic trends.
Financial Relevance: Yes
Financial Markets Impacted: The release of the key April consumer price index and the potential paths to interest-rate cuts by the Federal Reserve will impact financial markets and companies.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article discusses the upcoming release of the consumer price index and the potential paths to interest-rate cuts by the Federal Reserve, which are both important factors that can impact financial markets and companies.
Public Companies: Wells Fargo (WFC), Santander (null), Scotiabank (null)
Private Companies: Wrightson ICAP
Key People: Sam Bullard (Senior Economist at Wells Fargo corporate and investment banking), Jerome Powell (Federal Reserve Chair), Klaas Knot (Head of the Dutch central bank, Member of the governing council of the European Central Bank, Chair of the Financial Stability Board), Stephen Stanley (Chief U.S. Economist at Santander), Derek Holt (Head of Capital Markets Economics at Scotiabank), Lou Crandall (Chief Economist of Wrightson ICAP)
Reported publicly:
www.marketwatch.com 
