Kiplinger's Economic Calendar for This Week (July 7-11)

We're back to a regular five-day week on Wall Street, though a relatively light economic calendar is highlighted by the release of June FOMC meeting minutes.

calendar sitting next to stacks of coins and calculator
(Image credit: Getty Images)

The Fed was going to be the main focus on the economic calendar even before President Donald Trump explicitly called for Chair Jerome Powell to resign in a Truth Social post.

Wednesday, July 9: Federal Open Market Committee (FOMC) meeting minutes: The minutes from the June FOMC meeting are unlikely to include any mention of central bank independence.

But we will hear from monetary policymakers about tariffs and inflation as well as the condition of the labor market and the broader economy.

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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.


Economic calendar highlights

Monday (7/7)

There are no noteworthy economic reports scheduled for release on Monday, July 7.

Tuesday (7/8)

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Noteworthy economic reports

Economic report

Period

Time released

NFIB Small Business Index

June

6 am

Consumer credit

May

3 pm

Wednesday (7/9)

Catch up with the Fed

"Recent communications from Federal Reserve officials reveal a notable divergence of opinions regarding the timing of potential interest rate cuts," writes Deutsche Bank U.S. Economist Amy Yang in a recent Fed Watcher note.

"This division," Yang observes, "aligns with the signals sent by the Summary of Economic Projections (SEP) released in June."

Investors, traders and speculators will look for more clues about this much-discussed "divergence" and what it means in the context of President Donald Trump's assault on Fed Chair Jerome Powell and central bank independence.

"Dovish" voting members of the FOMC will "look through" potential inflationary impact of Trump's tariffs to focus on "the protection of the labor market from downside risks."

Powell occupies a middle, wait-and-see position.

"Hawkish" members continue to emphasize the Fed should be in in no rush to cut rates "as it will take time for the inflationary effects of tariffs to become evident in the data."

Still, Yang concludes, "The overall tone of Fed communications suggests that the September meeting is the earliest 'live' meeting for a rate cut, barring an unexpected weakening in the near-term labor market data."

At the same time, the economist notes too that a rate cut before December is becoming more likely.

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Other noteworthy economic reports

Economic report

Period

Time released

Wholesale inventories

May

10 am

Federal Open Market Committee (FOMC) meeting minutes

N/A

2 pm

Thursday (7/10)

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Noteworthy economic reports

Economic report

Period

Time released

Weekly jobless claims

Week ending July 5

8:30 am

St. Louis President Alberto Musalem speaks

N/A

10 am

San Francisco Fed President Mary Daly speaks

N/A

2:30 pm

Friday (7/11)

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Noteworthy economic reports

Economic report

Period

Time released

Monthly U.S. federal budget

N/A

2 pm

Reporting schedules are provided Forex Factory and MarketWatch.

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Karee Venema
Senior Investing Editor, Kiplinger.com

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at a local investment research firm. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.