The Economic Week Ahead: September 25-29

This is a relatively slow week for economic data. That means that the markets will be mostly entertained by the talking heads of the Federal Open Mouth Committee.  The chattering started on Friday, when two Fed officials (Governor Michelle Bowman and Boston Fed President Susan Collins) endorsed Fed Chair Jerome Powell's remark during his presser on Wednesday: "[W]e're committed to achieving and sustaining a stance of monetary policy that's sufficiently restrictive to bring down inflation to 2 percent over time."

The BIG event of the week will be the release of August's personal income and PCED inflation rate (Fri). We are expecting to see some slowing in consumer spending and another moderate core inflation number for the third month in a row. We know that real retail sales edged down in August (chart).