This Week: Consumer borrowing, job openings, Fed minutes
A look at some of the key business events and economic indicators upcoming this week:
JUST CHARGE IT
The Federal Reserve issues new data Monday on how much credit Americans took on in May.
The tally, which excludes mortgages and other loans secured by real estate, is expected to show consumer borrowing increased by $16 billion, slightly less than April’s $17.5 billion gain. That acceleration in April pushed total consumer credit to a record $4.07 trillion.
Consumer credit, monthly change, seasonally adjusted, billions of dollars:
May (est.) 16.0
Recent jobs data show that U.S. employers remain in a hiring mood.
U.S. employers added a robust 224,000 jobs in June, a sign that the job market remains healthy. Even so, job openings have eased of late. They slipped from a record 7.6 million in November to 7.4 million in April. Did the trend continue in May? Find out Tuesday, when the Labor Department serves up its snapshot of job openings.
JOLTS job openings, in millions, by month:
May (est.) 7.4
CLOSE-UP ON THE FED
Wall Street will be looking for new insights in the minutes of the Fed’s recent meeting of policymakers.
The Federal Reserve releases the minutes of last month’s meeting on Wednesday. At the meeting, Fed officials signaled that the central bank was prepared to begin cutting interest rates if needed to protect the U.S. economy, a change from the pledge it had been making since January to remain “patient” before changing rates.