This Week: Consumer confidence, Fed policy statement, April jobs report

A look at some of the key business events and economic indicators upcoming this week

EYE ON CONSUMERS

The Conference Board releases its latest monthly index of U.S. consumer confidence Tuesday.

The March reading ticked down to 104.7 from 105.8 the previous month, suggesting consumer confidence is holding steady even as Americans wrestle with higher prices and feel less optimistic about the future. Economists expect the April reading slipped again. Consumer spending accounts for about 70% of U.S. economic activity, so economists pay close attention to consumer behavior.

Consumer confidence, by month:

Nov. 101.0

Dec. 108

Jan. 110.9

Feb. 104.8

March 104.7

April (est.) 104.0

Source: FactSet

THE FED SPEAKS

The Federal Reserve delivers its latest interest rate policy update Wednesday following a two-day meeting of its policymakers.

At its meeting last month, Fed officials signaled that they still expected to cut their key interest rate three times this year, despite signs that inflation remained elevated. More recently, however, Fed Chair Jerome Powell has cautioned that persistently elevated inflation will likely delay any Fed interest rate cuts until later this year, opening the door to a period of higher-for-longer rates.

ALL ABOUT JOBS

The Labor Department issues its monthly tally of hiring by nonfarm employers Friday.

Economists predict that nonfarm U.S. employers added 205,000 jobs in April. That would be the fewest jobs added since November and a sharp decline from March, when the economy added 303,000 jobs and the unemployment rate dipped from 3.9% to 3.8%.

Nonfarm payrolls, monthly change, seasonally adjusted:

Nov. 182,000

Dec. 290,000

Jan. 256,000

Feb. 270,000

March 303,000

April (est.) 205,000

Source: FactSet