This Week: Fed policy update, Kellogg earns, jobs report

A look at some of the key business events and economic indicators upcoming this week:

MORE RATE HIKES?

The Federal Reserve delivers its latest economic and interest rate policy update Wednesday.

At its March meeting of policymakers, the central bank hiked rates for the first time in more than three years. Wall Street investors expect the Fed to raise its rate by a half-point at its next three meetings as the central bank fights the highest inflation in decades. When the Fed raises its rate, it often leads to higher borrowing costs for people and businesses.

SPOTLIGHT ON KELLOGG

Kellogg serves up its latest quarterly snapshot Thursday.

The maker of Rice Krispies cereal, Pringles potato chips and other packaged foods is expected to report lower earnings and slightly higher revenue for the first quarter versus the same period last year. Wall Street will be listening for an update on Kellogg’s sales trends and on how it’s managing the impact of higher costs and supply chain disruptions.

ALL ABOUT JOBS

The Labor Department issues its monthly tally of hiring by nonfarm employers Friday.

Economists predict employers added 375,000 jobs in April. That would be down from the 431,000 jobs added in March, which helped shrink the unemployment rate to 3.6% — the lowest since the pandemic erupted more than two years ago. Despite surging inflation, persistent supply bottlenecks, damage from COVID-19 and the war in Ukraine, employers have added at least 400,000 jobs for 11 straight months.

Nonfarm payrolls, monthly change, seasonally adjusted:

Nov. 647,000

Dec. 588,000

Jan. 504,000

Feb. 750,000

March 431,000

April (est.) 375,000

Source: FactSet