Fed Funds Rate, More updates for this week on Housing, Q1 2021 GDP, Manufacturing and more
April 26, 2021
The two-day Fed meeting kicks off this week on Tuesday and ends Wednesday with the 2:00 p.m. ET release of the monetary policy statement. There is a zero percent chance of a hike to the short-term Fed Funds Rate which is currently at just .125%. The Fed will most likely continue to signal that the economy is improving while it will keep its current asset purchase program at current levels. Fed Chair Powell will hold a press conference at 2:30 following the release.
Along with the Fed meeting this week, heavy added Treasury supply, a slew of economic data, earnings numbers and new tax proposals are some obstacles that investors will need to hurdle this week. Earnings season ramps up with the tech monsters Amazon, Microsoft, Google and Apple all reporting this week. This morning, March Durable Orders disappointed rising just 0.5% versus the 2% gain expected. The rest of the week features housing, Q1 2021 Gross Domestic Product, manufacturing, Core PCE and consumer spending and consumer attitudes.