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Fed Press Conference Looms on Wednesday.

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Mortgage and Lending with The Federal Savings Bank/Lending in 50 states NMLS # 109616

As the week kicks off, investors will be awaiting the two-day Fed meeting, Core PCE inflation data, the first read on Q2 Gross Domestic Product along with a boatload of Treasury supply are a few obstacles that the markets will be dealing with this week.
Fed members will kick off their meeting on Tuesday and end Wednesday at 2:00 p.m. ET with the release of the monetary policy statement followed by Fed Chair Powell's press conference at 2:30. It is expected that the Fed Funds Rate will increase by 0.75% to 2.50%. More on the subject tomorrow and Wednesday morning.

Data out of Europe continues to be weak with Germany on the cusp of a recession. Here in the states, the first read on Q2 2022 GDP will be released on Thursday with estimates at a meager +0.4%. The Atlanta Fed's GDPNow module shows a contraction of 1.6% after the similar decline in Q1. Also, housing data will be released this week along with Consumer Confidence. And throw in the biggest week for corporate earnings and the markets are looking at big risk event headlines.

 

Economic data heats up this week. Fed meeting on tap. Key economic growth data due out.

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