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Business group The Conference Board will release its consumer
confidence survey for September on Tuesday. The survey has
revealed shaky confidence from consumers throughout the year. In
August, confidence slipped to its lowest level in seven months.
On Wednesday, the U.S. will release a key inflation report, the
personal consumption expenditures price index, for August. The
PCE is closely monitored by Wall Street and the Federal Reserve.
Inflation remains stubbornly above 3% and the Federal Reserve
recently raised interest rates in an effort to tame high prices.
The central bank has a target rate for inflation of 2%.
High gasoline prices have been fueling a broader jump in
inflation, squeezing household budgets and sapping consumer
confidence. The U.S. war with Iran has stifled global oil
supplies since late February. It has a direct impact via higher
gasoline prices, but higher fuel costs also make shipping more
expensive. That raises prices for everything from food to
clothing.
The U.S. releases its monthly employment report for September on
Friday. The jobs market has been among the more resilient areas
of the economy, but it has started to show more signs of stress.
Wage growth has been slowing, which makes it harder for workers
to deal with the impact of rising inflation.
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