Consumers expect inflation to continue slowing

Consumers expect inflation to continue slowing

Sept. 18:

The preliminary University of Michigan Consumer Sentiment Survey index fell to 67.7 in September from 69.5 in August. Consumers’ long-run inflation expectations dropped from 3.0% to 2.7%, the lowest level in a year. 

State of the market

The market’s focused on the outcome of the Federal Open Market Committee meeting on Wednesday. The Federal Reserve isn’t expected to take action, but its updated quarterly economic projections will be studied with great interest, as will statements from Fed Chair Jerome Powell and the FOMC.

This morning, the Dow traded up and Treasury yields were up relative to Friday morning.

Economic calendar

Tuesday, Sept. 19

  • Housing Starts/Building Permits

Wednesday, Sept. 20

  • The FOMC concludes its meeting with a press release at 11:00 a.m. PT and a news conference 30 minutes later.

Thursday, Sept. 21

  • Weekly Initial Jobless Claims
  • Current Account Balance
  • Philadelphia Fed Manufacturing Business Outlook
  • Existing Home Sales
  • Leading Indicators

Friday, Sept. 22

  • S&P Global Flash US Composite PMI

Treasury calendar

Tuesday, Sept. 19

  • $13 billion auction of 20-year Treasury bonds

Thursday, Sept. 21

  • $15 billion auction of 10-year Treasury Inflation-Protected Securities

By Mike Kraft, Executive Director and Commercial Real Estate Treasurer for Commercial Banking
Your time is valuable. Process rent payments faster and easier online with Story by J.P. Morgan.
GET STARTED

Chase, J.P. Morgan, JPMorgan Chase, and Story by J.P. Morgan are marketing names for certain businesses of JPMorgan Chase & Co. and its affiliates and subsidiaries worldwide. “JPMorgan”, “JPMorgan Chase”, the JPMorgan Chase logo, “Story”, and “Story by J.P. Morgan” are trademarks of JPMorgan Chase Bank, N.A. JPMorgan Chase Bank, N.A. is a wholly-owned subsidiary of JPMorgan Chase & Co. Visit jpmorgan.com/cb-disclaimer for additional disclosures and disclaimers related to this content. Changes to Interbank Offered Rates (IBORs) and other benchmark rates, such as the London Interbank Offered Rate (LIBOR) are, or may in the future become, subject to ongoing international, national and other regulatory guidance, reform and proposals for reform. For more information, please consult jpmorgan.com/IBOR.

The information and materials contained herein are for informational and educational purposes only and not for business, legal, accounting, tax or any other advice. We make no representation or warranties or give any guaranties with respect to the content and hereby disclaim any and all liability for your action or inaction. Always consult your own attorney, tax advisor, accountant or other appropriate professionals.

JPMorgan Chase, 10 S. Dearborn, Mail Code: IL1-0723, Commercial Banking Marketing, Chicago, IL 60603-3403, United States.

ⓒ 2023 JPMorgan Chase & Co. All rights reserved. JPMorgan Chase Bank, N.A. Member FDIC. Deposits held in non-U.S. branches are not FDIC insured.