Kiplinger's Economic Calendar for This Week (March 17-21)

There are a number of key data points on the economic calendar, beginning Monday with the release of retail sales data for February, which is due ahead of the opening bell.

The highlight of the week comes Wednesday, when the Federal Open Market Committee will make its next interest-rate decision. Fed Chair Jerome Powell will host a press conference after the FOMC meeting.

Wall Street is looking for clarity from the central bank on monetary policy, notably Powell's perspective on the Trump administration's tariff plans and their potential impact on inflation.

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Monday, March 17: Retail sales: The Census Bureau reported that retail sales were up 0.2% in February, below a 0.7% Wall Street consensus.

Wednesday, March 19: Federal Open Market Committee meeting: The Fed is expected to maintain the federal funds rate at 4.25% to 4.50%.

You can read on to see the entire weekly economic calendar of the most important upcoming economic reports scheduled to be released over 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 Standard Time.

Economic calendar highlights

Monday (3/17)

Retail sales disappoint

The Census Bureau reported on Monday that retail sales were up 0.2% in February, less than a third of the FactSet-compiled 0.7% consensus forecast. And the decline in sales in January was revised from 0.9% to 1.2%.

"The fact that this modest bounce comes on the heels of the downward revision makes it all the more disappointing," write Wells Fargo economists Tim Quinlan and Shannon Grein. "The key thing to understand in today's report," write Quinlan and Grein, "is that last month's sales figures were revised sharply lower."

As Quinlan and Grein note, with concern about consumer spending "bubbling up at a more rapid pace in recent weeks" – the downward revision January's monthly decline is the biggest one since 2021.

According to Neil Dutta, head of economics at Renaissance Capital Research, "Consumers are cutting back on their discretionary purchases." Over the last three months, restaurant sales have declined by 8.5% at an annual rate, the weakest pace since early 2022, while grocery story sales have increased by 6.2%, the fastest pace since November 2022.

"When households spend more dining out relative to dining in," Dutta explains, "it is a sign of optimism. When the opposite is true, I'd be more concerned."

Tuesday (3/18)

Wednesday (3/19)

What will Powell say?

Fed funds futures pricing reflects a 99% probability the FOMC will keep its main benchmark unchanged at the conclusion of its two-day meeting on Wednesday.

But, given rising concern about economic growth, tariffs and the potential for resurgent inflation, this one will be widely watched.

"We look for the FOMC to keep rates on hold at its meeting on March 19, an expectation that is universally shared," write Wells Fargo economists Jay Bryson, Sarah House and Michael Pugliese. "We believe the median dot for 2025 in the so-called dot plot will remain unchanged."

The economists do say they "would not be surprised if Chair Powell makes a dovish comment or two in his post-meeting press conference in light of recent policy uncertainty that has led to financial market volatility."

Thursday (3/20)

Friday (3/21)

Reporting schedules are provided Forex Factory and MarketWatch.

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