Federal Reserve Chair Jerome Powell and his colleagues will step into the central bank’s board room on Tuesday to deliberate on interest rates at a time of immense political pressure, evolving trade policy, and economic cross-currents.
In a rare occurrence, policymakers will convene in the same week that the government issues reports on gross domestic product, employment and the Fed’s preferred price metrics. Fed officials meet Tuesday and Wednesday, and are widely expected to keep rates unchanged again.
Forecasters anticipate the heavy dose of data will show economic activity rebounded in the second quarter, largely due to a sharp narrowing of the trade deficit, while job growth moderated in July. The third marquee report may show underlying inflation picked up slightly in June from a month earlier.
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