Consumer prices rose in May by the most in more than a year, showing U.S. companies are gaining some pricing power as the economy strengthens, and the homebuilding industry stabilized after a first-quarter swoon.
Employers in the U.S. probably added more than 200,000 workers for a fourth month in May, powering payrolls past the pre-recession peak for the first time as the economic expansion continues to strengthen.
Here’s what to look for when the Federal Open Market Committee releases its policy statement at 2 p.m. today in Washington along with new economic projections. Federal Reserve Chair Janet Yellen plans to give a press conference at 2:30 p.m.
A number of Federal Reserve officials said the central bank may need to expand its monthly purchases of bonds next year after the expiration of Operation Twist, according to minutes of their last meeting.