Monetary policy is on the agenda this week, with the Federal Reserve gathering in Washington for its June meeting. The Federal Open Market Committee (FOMC) is widely expected to raise interest rates on Wednesday. This view is in accordance to the 30-day Fed Fund futures prices, which have long been used to express the market’s views on monetary policy.
A rate hike, should it materialize, would signal renewed confidence in the domestic recovery in the face of disappointing economic data. The U.S. economy is coming off a disappointing first quarter, providing fresh headaches for the Trump administration in its pursuit of faster growth.
A steady stream of economic data will also make the rounds this week, giving investors important insight into consumer spending, inflation and the housing market.
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There are no major market-moving events scheduled at the start of the week.