Fed Minutes, Jobless Claims, and Business Surveys Dominate Economic Calendar

The week ahead in economics will be marked by several key releases that could provide insights into the US Federal Reserve's stance on inflation and interest rates. On Wednesday, the Fed will release minutes from its July 28-29 meeting, which may reveal how officials assessed the outlook for inflation before last week's numbers were available.

The latest inflation data showed that July's Consumer Price Index (CPI) cooled to 2.5% year-over-year, its lowest since March 2021. However, the Personal Consumption Expenditures (PCE) price index rose 4.4%. The FOMC meeting minutes are expected to provide some clarity on how Fed officials were thinking about inflation before these numbers were available.

Other domestic economic news this week includes weekly jobless claims, which are expected to show that layoffs remain low. Regional business surveys from the New York and Philadelphia Federal Reserve banks will also be released, providing insights into business activity in the US.