The big news this week will actually be packed into Tuesday, culminating with reports from the Fed meeting.
Expectations are for a 50 or 75 basis point rate cut, and the accompanying statement will provide the Fed's latest views on the state of the economy and the financial system. The Consumer Price Index (CPI), the most closely watched monthly inflation report, will also be announced on Tuesday. CPI looks at the price change for those finished goods which are sold to consumers. And the Fed numbers for Housing Starts is also scheduled for release Tuesday morning.
Industrial Production, an important indicator of economic activity, was released today, and was in line with what was expected, which was a 0.6% decline.
The regional manufacturing indexes will be released starting on Thursday with the Philadelphia Fed Report.
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