The report previews a critical week ahead featuring the June employment report, the FOMC Chair's upcoming policy panel appearance, and potential Supreme Court developments regarding Federal Reserve independence.
Key Takeaways
- 1.Expectations of a 80K nonfarm payroll employment rise for June, with steady unemployment of 4.3%.
- 2.Supreme Court opinion pending in Trump v. Cook, a case critical for Federal Reserve independence.
- 3.May is expected to be the peak for headline PCE inflation.
Table of Contents
- Economic Comment: Cook case opinion incoming?
- Mapping the FOMC's reaction function
- Nonfarm payroll employment revisions
- Then and now — world cup in the data
- USMCA: next week is the beginning, not the end
- Week in Review: soft Q2 data, peak of PCE
- Fedspeak: inflation concerns continue
- Energy data recap: prices down, rig counts flat
- Economic Forecast Table
- Week Ahead: busy week
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Authors
Jonathan PingleAbigail WattAlan DetmeisterAmanda WilcoxJalen Nichols
Securities
US Dollar
Themes
Federal Reserve IndependenceLabor Market ResilienceUS Inflation and PCE PeaksUSMCA Renegotiation
Regions
North AmericaUnited States