ECONOMIC WEEK AHEAD: July 21-25

This might be a good week to take a summer vacation. The economic data calendar is light. On Monday, Fed Chair Powell will speak in Washington, perhaps offering an update on his views on employment, inflation, and interest rates. He won't comment on calls for his resignation. Vice Chair Michelle W. Bowman could make some news at the same conference the following day.

The European Central Bank is not widely expected to lower interest rates at its meeting on July 23-24, 2025. Analysts and market expectations, based on recent web sources, suggest the ECB will likely maintain current rates, with the deposit rate at 3.75%.