What to Look Out for in Economic Data This Week (August 24-28)

After a split decision about interest rates at the conclusion of the July Fed meeting, markets will pay close attention to what Fed Chair Kevin Warsh has to say about inflation and rising Treasury yields at the annual Jackson Hole Economic Symposium on Friday.

We'll also see revised consumer sentiment survey results on Friday.

Ahead of those items, the Bureau of Economic Analysis (BEA) will deliver updated data for what remains the Fed's preferred inflation gauge.

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Economic reports we're watching:

Personal Consumption Expenditures Price Index (PCE) and Core PCE: Markets have many questions about the new Fed, including whether PCE is still the central bank's preferred measure of price stability.

Fed Chair Kevin Warsh speaks: Two FOMC meetings into his tenure and still trying to establish his authority among market participants, Warsh will speak at the annual Jackson Hole Economic Policy Symposium.

Read on to see the entire weekly economic calendar of the most important upcoming economic reports scheduled to be released in the next several days. At times, we provide expanded previews and recaps for select reports.

Please check back often. This economic calendar is updated regularly. Bolded reports are those considered more noteworthy. All reporting times are in Eastern Time.

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Monday (8/24)

There are no noteworthy economic reports scheduled for release on Monday, August 24.

Tuesday (8/25)

Wednesday (8/26)

PCE pressures ease

Cooler-than-expected July Consumer Price Index (CPI) and Producer Price Index (PPI), as well as lower import prices, will translate to the Fed's preferred inflation gauge in a way that will allow the central bank to keep the target range for the federal funds rate at 3.50% to 3.75% again in September.

As Barclays senior U.S. economist Pooja Sriram writes, those figures "will likely be comforting enough for most members of the FOMC to keep rates on hold as they await additional data."

Sriram expects the BEA to report a 0.2% month-over-month rise in core PCE, boosted by prices of portfolio management services, but weighed down by healthcare and domestic and international airlines prices. Core PCE is tracking to a 3.2% year-over-year increase.

The economist's core PCE forecast for year-end remains 3.2%, and Sriram maintains a baseline call that the FOMC will keep policy rates on hold for the rest of 2026.

Thursday (8/27)

Friday (8/28)

Fed Chair Warsh speaks at Jackson Hole

Fed Chair Kevin Warsh may want to talk about big questions when he makes his first keynote address as the head of the most important central bank in the world at the Kansas City Fed's annual gathering in Wyoming on Friday.

But, as University of Pennsylvania Wharton School Professor Patrick Harker told Barron's, "Warsh is going to have to address the elephant in the room, which is inflation."

Harker is also the former president of the Philadelphia Fed. He says Warsh must "actually say more than 'we're in the fight.' That's not going to fly. If that's going to be his approach, it's going to really be a disappointment to the markets."

Indeed, markets reacted poorly to Warsh's post-FOMC meeting press conference last month, when he failed to answer questions about how he plans to communicate policy intentions and the Fed's reaction function.

The yield on the 2-year Treasury is up 11 basis points to 4.234% since Warsh was sworn in as Fed chair on May 22. The 10-year (+17.6 bps, 4.734%) and the 30-year (+21.1 bps, +5.275%) yields have also surged.

Reporting schedules are provided Forex Factory and MarketWatch.

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