The Commerce Department releases its monthly snapshot of the nation’s trade gap Tuesday. Federal Reserve officials wrap up a two-day meeting and issue an interest rate policy update Thursday. The central bank also delivers its latest tally of U.S. consumer borrowing on Thursday.
The gap between the value of goods and services the U.S. sells abroad and what it buys narrowed in August to $70.4 billion. Exports of aircraft, computer accessories, cars and other goods rose 2%. Imports of goods fell 0.9%, while demand for US services like travel rose. Economists predict the U.S. trade gap widened slightly to $72.7 billion in September.
Federal Reserve officials wrap up a two-day meeting and issue an interest rate policy update Thursday. At their last meeting Sept. 18, Fed officials reduced the central bank’s main interest rate to 4.8%, from a two-decade high of 5.3%, and penciled in two more quarter-point rate cuts in November and December. However, a string of stronger-than-expected reports on the U.S. economy in recent weeks could influence how deeply the Fed will ultimately cut rates.Inflation gauge closely watched by the Fed falls to lowest level since early 2021The tally is expected to show consumer borrowing rose by $11.
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