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The Week Ahead: Fed Chair Press Conference and FOMC Forecasts

Federal Reserve BHThe Fed will release its quarterly economic projections this Wednesday, as well as holding a press conference with Fed Chair Janet Yellen. At 2 p.m., the Federal Open Market Committee will release its forecast report, covering GDP, the PCE price index, the unemployment rate, and forecasts of the next change in the Fed funds rate and the expected rate at the end of the next two years. The FOMC forecasts are compiled based on individual outlooks from each Fed governor and District president.

At 2:30 p.m., the Fed Chair’s press conference will address these forecasts and other aspects of Fed policy.

This conference will be noteworthy, as it will be Yellen’s last time to deliver these quarterly forecasts. Jerome Powell, President Trump’s nominee to succeed Yellen as Fed Chair, was confirmed by the Senate Banking Committee last week. Assuming his nomination is approved by a full Senate vote, he’ll be the one behind the podium to discuss the next FOMC forecasts in March 2018.

Other events in the week ahead:

Labor Department Job Openings and Labor Turnover Survey, Monday

Bright MLS November Housing Market Updates, Monday 10 a.m. EST

NFIB Small Business Optimism Index, Tuesday, 6 a.m. EST

Treasury Budget, Tuesday, 2 p.m. EST

MBA Mortgage Applications, Wednesday, 7 a.m. EST

Fed Balance Sheet, Thursday, 4:30 p.m. EST

About Author: David Wharton

David Wharton, Acting Editor-in-Chief at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 15 years of experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at David.Wharton@theMReport.com.
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