THE WEEK AHEAD: Big Banks’ Earnings and China Growth Report to Give Snapshots of Economies

ECONOMY

Federal Reserve to release minutes of September meeting.

The Federal Reserve is steadily raising interest rates as the economy grows, notwithstanding the objections of President Trump. The most recent increase, after the September meeting of the Fed’s policymaking committee, made the fourth consecutive quarter that the Fed has raised its benchmark interest rate by one-quarter of a percentage point. The rate now sits in a range of 2 to 2.25 percent. On Wednesday, the Fed will release the minutes of the September meeting. The Fed’s chairman, Jerome H. Powell, said after the meeting that he saw few clouds on the economic horizon, and the Fed indicated that it planned to raise rates again in December. The minutes are likely to reinforce expectations of another quarterly rate increase, but they could also illuminate any lingering concerns among Fed officials.

— Binyamin Appelbaum

ECONOMY

A fall chill for the housing market.

The housing market has slowed in recent months, with formerly red-hot markets like Seattle and San Francisco, in particular, showing signs of cooling off. The problem, according to many economists, is that prices have risen much faster than wages, in part because builders can’t keep up with demand. Data on housing starts and building permits, due Wednesday from the Commerce Department, should show whether builders are stepping up construction to fill the gap. Separate data on existing home sales on Friday will show whether high prices are tempting owners to put their homes on the market. Economists expect both reports to point to continued slowness.

— Ben Casselman

TRADE

European and Asian nations seek improved relations at meeting.

Leaders of more than 50 European and Asian countries will hold a summit meeting in Brussels on Thursday and Friday to discuss issues including denuclearization of Korea, the Iran nuclear deal, and trade. The summit comes as European and Asian countries seek to improve relations as a counterpoint to increased protectionism in the United States. During the meeting, the European Union will also sign a free-trade agreement with Singapore.

— Jack Ewing

Article source: https://www.nytimes.com/2018/10/14/business/big-banks-earnings-and-china-growth-report-to-give-snapshots-of-economies.html?partner=rss&emc=rss