This Week: Fed statement, FedEx earns, US home sales
A look at some of the key business events and economic indicators upcoming this week:
EYE ON THE FED
The Federal Reserve caps a two-day meeting of its policymakers with an economic and interest rate policy update Wednesday.
Most analysts project that Fed officials will announce the first of several expected increases to the central bank’s short term interest rate as the Fed moves to counteract a sharp acceleration of consumer prices. Inflation has reached its highest pace in four decades, hammering household budgets and wiping out the benefit of rising wages.
FedEx serve up its fiscal third-quarter results Thursday.
Wall Street predicts the package delivery company’s earnings and revenue increased in the December-February quarter from a year earlier. That would be a solid showing for FedEx, which posted flat earnings in its second quarter and a profit decline in its first quarter.
HOUSING MARKET BAROMETER
The National Association of Realtors issues its latest monthly snapshot of U.S. home sales Friday.
Economists predict sales of previously occupied U.S. homes slowed to a seasonally adjusted annual rate of 6.1 million properties last month. That would follow an annual pace of 6.5 million homes in January, when a surging number of buyers with cash and others eager to avoid higher mortgage rates snapped up properties.
Existing home sales, in millions, seasonally adjusted annual rate:
Feb. (est.) 6.10