US Economic Calendar For The Week Of July 8, 2019

US Treasury Building Washington DC — The U.S. Treasury has struck an intergovernmental agreement with the Singapore government to curb offshore tax evasion. Getty Images

International Business Times poll on major U.S. economic indicators scheduled for release during the week of July 8, 2019.

This week’s major highlight is Federal Reserve Chair Jerome Powell's testimony before the House Financial Services Committee on Wednesday and at the Senate Banking Committee on Thursday. ING expects the Fed Chair to signal a 25 basis points rate cut at the July FOMC meeting, and to repeat his comment that “an ounce of prevention is worth more than a pound of cure”. Markets will also keep an eye on the minutes from the Federal Reserve’s last policy meeting to look for clues on the future course.

Also on the economic calendar is the inflation and producer price data. Economists expect the annualized rate of core consumer price inflation to remain unchanged at 2 percent in June, with the overall inflation slowing down to 1.6 percent in June from 1.8 percent in the prior month.

Producer price inflation is also likely to lose momentum, with annualized rate slipping to 1.7 percent in June from 1.8 percent in the previous month.