A series of inflation data is expected with the consumer price index and the producer price index being released later in the week.
Friday’s July jobs report showed a large 943,000 increase in payrolls. While it isn’t enough to convince some people that the central bank could announce a start to dialing down support measures.
The Federal Reserve relies on jobs and inflation when making decisions on policy. Markets are watching for any clues as to when the central bank would begin to withdraw from the steps it took to assist the economy during the outbreak, such as its $120 billion monthly purchases of Treasury bonds and mortgage-backed securities.