Week inAdvance
Monday | May 2, 2022
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Mon May 2 Eid al-Fitr begins, marking the ending of Ramadan. | Tue May 3 FOMC meeting. | Wed May 4 Fed rate decision. | Thu May 5 U.K. BOE rate decision. | Fri May 6 SEC annual conference on financial market regulation. U.S. employment report for April. | Sat May 7 The Kentucky Derby | Sun May 8 Mother’s Day celebrated in multiple countries worldwide.
The Fed meets to set interest rates, and economists project the central bank will raise its benchmark by a half point to tackle the highest inflation in four decades. It’s also expected to announce the start date for shrinking a balance sheet that ballooned to $9 trillion during the pandemic.
As the world grapples with higher prices and concerns about a hard economic landing amid the war in Ukraine, rate decisions are also due in the U.K., Australia and Brazil.
Friday’s U.S. jobs report is forecast to show a gain of about 400,000 in April and an unchanged unemployment rate of 3.6%.
All times are Eastern and subject to change.
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Thursday, May 12
INVESTORS market practices industry update
10:30 - 11 am
Come when you can. Leave when you have to. Take your calls.
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Tuesday, May 3 -
Wednesday, May 4
FEDERAL RESERVE
The Federal Open Market Committee sets interest rates, with economists projecting a half-point hike to the U.S. benchmark. An announcement of the start date for reducing the central bank’s balance sheet is also expected. Fed Chair Jerome Powell holds his first in-person press conference since the pandemic began.
Friday, May 6
SECURITIES AND EXCHANGE COMMISSION
The SEC’s Division of Economic and Risk Analysis (DERA), Lehigh University’s Center for Financial Services, the University of Maryland’s Center for Financial Policy and CFA Institute will jointly host the Ninth Annual Conference on Financial Market Regulation. The goal of the conference is to bring together participants from academia, industry, government, and the SEC for an exchange of views on topics of relevance to the Commission.
Friday, May 6
BUREAU OF LABOR STATISTICS
U.S. April jobs report. Economists expect payrolls to gain about 400,000 and the unemployment rate to remain unchanged at 3.6%, near its pre-pandemic low.
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Wednesday, May 4
SENATE BANKING, HOUSING, AND URBAN AFFAIRS
Subcommittee on Financial Instituions and Consumer Protection hearing: "Examining Overdraft Fees and Their Effects on Working Families."
Wednesday, May 4
SENATE FINANCE
Subcommittee on Taxation and IRS Oversight hearing: "Laws and Enforcement Governing the Political Activities of Tax Exempt Entities."
Thursday, May 5
SENATE BANKING, HOUSING, AND URBAN AFFAIRS
Hearing: "Examining Student Loan Servicers and Their Impact on Workers."
Thursday, May 5
SENATE BUDGET
Hearing: "Should Taxpayer Dollars Go to Companies that Violate Labor Laws?"
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Monday, May 2 -
Thursday, May 5
STRASBOURG, France
European Parliament Plenary.
Thursday, May 5
LONDON, U.K.
Bank of England rate decision and briefing. With inflation at a 30-year high, the U.K. central bank is expected to raise its key rate by 25 basis points to 1%, the threshold at which officials say they’ll consider selling bonds into the market.
Thursday, May 5
UNITED KINGDOM
Local elections take place in England, including all London boroughs, plus all local authorities in Scotland and Wales, as well as for assembly seats in Northern Ireland.
Thursday, May 5
GENEVA, Switzerland
General Council of the World Trade Organization meets.
Thursday, May 5
VIENNA, Austria
OPEC+ convenes virtually for a regular meeting. The coalition has stuck with a policy of restoring output halted during the pandemic in modest tranches of roughly 400,000 barrels a day.
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Wednesday, May 4
Star Wars Day is marked by fans around the world to celebrate the popular science fiction movie series because the phrase “May the force be with you” sounds like “May the fourth be with you.”
Friday, May 6
New York City
UN’s world food situation monthly report for April. The index of food prices for March surged to an all-time high.
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