Business Week AheadBusiness Week Ahead Wednesday, August 2: * Federal Reserve Meeting: The Federal Reserve concludes its two-day policy meeting. While most experts anticipate a rate cut in September, there is little expectation for a change this week. * Boeing Earnings: Embattled jet maker Boeing reports its second-quarter earnings, facing scrutiny over its 737 Max crashes. Friday, August 4: * July Jobs Report: The government releases its July jobs report, providing insight into the health of the labor market and its impact on the Federal Reserve’s interest rate policy. Key Details: * Fed Rate Decision: Recent data indicates inflation is approaching the Fed’s 2% target, but a rate cut this week is unlikely. * Boeing Scandal: Boeing has faced legal and regulatory issues since the 737 Max crashes, including a guilty plea agreement for misleading regulators. * Labor Market: June saw strong job growth, but analysts expect a slight dip in hiring in July. The Federal Reserve is monitoring the cooling labor market in its interest rate decisions. Historical Job Creation Data: | Month | Nonfarm Payrolls, Seasonally Adjusted | |—|—| | February | 236,000 | | March | 310,000 | | April | 108,000 | | May | 218,000 | | June | 206,000 | | July (Est.) | 180,000 | Source: FactSet Disclaimer: This information is from The Associated Press, copyright 2024. It may not be republished, broadcast, rewritten, or redistributed without permission.
FED MEETS
On Wednesday, the Federal Reserve wraps up its two-day policy meeting.
Few expect the US central bank to lower interest rates this time around, with most experts forecasting a cut in September. The Fed began ratcheting up rates in March of 2022 in the midst of the four-decade high inflation that took root as the economy rebounded from the letter but sharp pandemic recession. Data suggest that inflation has receded in recent months and is closing in on the Fed’s 2% target.
BOEING BLUES
Embattled jet maker Boeing reports its second-quarter earnings Wednesday.
Virginia-based Boeing has been mired in investigations and lawsuits since two of its Max 747s crashed in 2018 and 2019, killing 346 people. Last week, the Justice Department submitted a detailed plea agreement with Boeing in which the aerospace giant will plead guilty to a fraud charge for misleading US regulators who approved the 737 Max jetliner before the crashes.
EYE ON JOBS
The government serves up its July jobs report on Friday.
America’s employers delivered another healthy month of hiring in June, highlighting the economy’s ability to withstand high interest rates. Last month’s job growth marked a pullback from May and analysts expect another dip in hiring in July. The Federal Reserve is paying close attention to the cooling labor market as it gathers data relevant to its interest rate policy decisions.
Nonfarm payrolls, monthly change, seasonally adjusted:
Feb.: 236,000
March: 310,000
April: 108,000
May: 218,000
June: 206,000
July (est.): 180,000
Source: FactSet
Copyright 2024 by The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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