The Fed expects to fully wind down its $120 billion-per-month bond purchases by the middle of next year. At that point some economists expect the central bank to start raising interest rates. Fed Chairman Jerome Powell assured markets the central bank still sees inflation as temporary, but that if it proves to be hotter, the Fed would act.
The producer price index and consumer price index are reported Tuesday and Wednesday, respectively. Economists expect both reports to remain elevated for October. Headline PPI is expected to rise 0.6%, according to Dow Jones.. Steve Sosnick, chief strategist at Interactive Brokers, said markets are already expecting the elevated inflation prints.
CIBC's Donabedian said the group of speakers could be important, and it will be key to listen for nuances to their views on rising prices. "You do get some different twists on inflation. While it's not going to look like an FOMC feud at all, it will look like members are not on the same page on inflation," he said.
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