ECONOMIC WEEK AHEAD: January 12–16

If economists did weather reports, this week's forecast would call for a data blizzard. Yet visibility should improve as the markets get much-anticipated readings on inflation, retail sales, and industrial production ahead of the Fed's next policy meeting on January 28.

Few economists expect Fed Chair Jerome Powell and the rest of the Federal Open Market Committee (FOMC) to ease monetary policy again later this month. Neither do we. This week's data could confirm or alter this conventional wisdom—starting with the December consumer price index (Tue).