Week InAdvance: May 2, 2022
Mon May 2 Eid al-Fitr begins, marking the ending of Ramadan. | Tue May 3 FOMC meeting. | Wed May 4 Fed rate decision. | Thu May 5 U.K. BOE rate decision. | Fri May 6 SEC annual conference on financial market regulation. U.S. employment report for April. | Sat May 7 The Kentucky Derby | Sun May 8 Mother's Day celebrated in multiple countries worldwide.
The Fed meets to set interest rates, and economists project the central bank will raise its benchmark by a half point to tackle the highest inflation in four decades. It's also expected to announce the start date for shrinking a balance sheet that ballooned to $9 trillion during the pandemic.
As the world grapples with higher prices and concerns about a hard economic landing amid the war in Ukraine, rate decisions are also due in the U.K., Australia and Brazil.
Friday's U.S. jobs report is forecast to show a gain of about 400,000 in April and an unchanged unemployment rate of 3.6%.
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