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The week ahead is relatively light in terms of economic reports. It's also light on talking Fed heads. But, we won't be surprised if one or two of them pops up on CNBC. We think they might push back against the rate-cut mob that is calling for a 50bps cut in the federal funds rate in September. It would be a shame if they joined in the recession hysteria since financial markets are on edge after the surge in market volatility on Friday.
The weekly unemployment claims report (Thu) will likely be the most important one. Markets will look for confirmation of last week's reports that the labor market is substantially slowing. We don't think they'll get it. Here's what we're watching:
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