ECONOMIC WEEK AHEAD: September 2 - 5

This week is chock-a-block with data reports, all building up to Friday's pivotal employment report. The August jobs release will offer a reality check of sorts following July's surprisingly soft reading and significant downward revisions to results for May and June. It could determine whether the Federal Open Market Committee (FOMC) proceeds with a rate cut at its September 16-17 policy meeting.

The July jobs data led to two dissenting votes at the July 29-30 FOMC meeting. Since then, more Fed officials appear to have become comfortable with the possibility of an easing move at the September 16-17 meeting. Underwhelming data on consumer spending and confidence have many investors betting the full-employment half of the Fed's dual mandate will take precedence over worries about tariff-driven inflation.