It's Fed Week on Wall Street, and the Federal Open Market Committee is widely expected to deliver another 25-basis-point rate cut at the end of its two-day meeting on Wednesday.
Washington D.C. is already moving on from Jerome Powell even though he has this, plus three FOMC meetings in 2026, to oversee. The Fed and the chair have been under unusual political pressure this year to cut interest rates.
Powell's press conference will be notable for what he reveals about inflation and jobs, as well as the decision-making process for this meeting and the discussion around the quarterly Summary of Economic Projections.
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Meanwhile, multiple reports suggest National Economic Director Kevin Hassett will be the next Fed chair. President Donald Trump said he'll name his nominee early next year. Powell's term as Fed chair expires in May.
As for incoming economic data, in addition to weekly jobless claims, we'll see the first Job Openings and Labor Turnover Survey (JOLTS) report since September 30. October data was delayed by the government shutdown.
Other economic data we're watching
Tuesday, December 10: Job Openings and Labor Turnover Survey (JOLTS): We'll get our first look at job openings and hiring and separation trends since September 30, though this detailed but delayed data from October is not quite real-time.
Thursday, December 11: Weekly jobless claims: This noisy data set remains the most timely read on the current state of the labor market, and lately it's looked relatively healthy.
Read on to see the entire weekly economic calendar of the most important upcoming economic reports scheduled to be released in the next several days. At times, we provide expanded previews and recaps for select reports.
Please check back often. This economic calendar is updated regularly. Bolded reports are those considered more noteworthy. All reporting times are in Eastern Time.
Reports that have been delayed due to the government shutdown are marked with an asterisk (*).
Monday (12/8)
There are no noteworthy economic reports scheduled for release on Monday, December 8.
Tuesday (12/9)
Time released | Economic report | Period |
6 am | NFIB Small Business Index | November |
10 am | Job Openings and Labor Turnover Survey (JOLTS)* | October |
Wednesday (12/10)
Welcome to Fed Week
Looking at price action in the futures market and market-based interest rates, there's not much mystery about what the Federal Open Market Committee will do at the conclusion of its two-day meeting on Wednesday.
Absence of mystery does not mean absence of drama.
Fed Chair Jerome Powell and company are going to trim the target range for the federal funds rate by 25 basis points to 3.50% to 3.75%.
Price stability is a pressing question, with the impact of President Donald Trump's tariffs on inflation still undetermined. Full employment must take precedent, for now.
But, as Wells Fargo economists Sarah House and Michael Pugliese observe, "The FOMC has grown increasingly split over its near-term course of action." Indeed, House and Pugliese expect to see multiple dissents from voting members of the FOMC.
"A more hawkish post-meeting statement could be used to limit the total number of dissents," they write. "We expect the statement to signal a higher bar to additional rate cuts and to hint that a hold in January is most Committee members' working assumption."
House and Pugliese also expect the December update to the Fed's Summary of Economic Projections to include "forecasts … in the direction of higher unemployment and lower inflation – consistent with another 25 bps rate cut at this meeting."
The median for the Fed's dot plot for 2026 will remain at 3.375%. "Given the potential for a slightly higher unemployment rate and slightly lower inflation in the 2026 projections," they conclude, "we see the risks to the 2026 median dot as skewed to the downside."
Time released | Economic report | Period |
8:30 am | Employment Cost Index* | Q3 |
2 pm | U.S. federal budget | November |
2 pm | Federal Open Market Committee (FOMC) policy statement | N/A |
2 pm | FOMC Summary of Economic Projections | N/A |
2:30 pm | Federal Reserve Chair Jerome Powell's press conference | N/A |
Thursday (12/11)
Time released | Economic report | Period |
8:30 am | Weekly jobless claims | Week ending December 6 |
10 am | U.S. trade balance* | September |
Friday (12/12)
There are no noteworthy economic reports scheduled for release on Friday, December 12.
Reporting schedules are provided Forex Factory and MarketWatch.
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