OPEC will cut production by 2 million barrels a day, likely sending gas and oil prices back up. This should cause future cpi data reports to come in higher than expected which would cause the stock market to drop.
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#inflation #fedmeeting #stockmarketcrash
Jerome H. Powell, the Federal Reserve chair, faces a challenging moment as inflation proves more durable than policymakers expected.
What to expect from the upcoming Fed meeting. Of course, the Fed decision on Wednesday, that’s at 2:00 PM, which is going to be dominating conversations all week. We’re also going to be keeping our eyes on retail sales. That’s also coming out Wednesday morning. Let’s bring in our own Alexandra Semenova for everything we need to know.
The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. Indexes are available for the U.S. and various geographic areas. Average price data for select utility, automotive fuel, and food items are also available.
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