Countdown begins to Fed’s last meeting of 2022: What to know this week

A parcel of economic data awaits Wall Street this week as investors inch closer to the Federal Reserve’s final rate-setting meeting this year.

New readings on the producer price index (PPI) – which measures inflation at the wholesale level – durable goods orders, and consumer sentiment lead the economic calendar in importance. Meanwhile, a few more earnings reports will close the curtain on third-quarter reporting season.

U.S. central bank officials are scheduled to convene Dec. 13-14 and expected to lift their benchmark interest rate by 50 basis points. Federal Reserve members have entered a blackout period ahead of the gathering, which limits public speaking engagements ahead of policy-setting meetings.

Data releases monitored most closely for Fed clues include the monthly jobs report, which blew expectations for November on Friday, and Consumer Price Index data – next out Dec. 13 – as they are two of the most comprehensive economic releases used by officials to set…

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