United States

A modest economic growth rebound may be on the horizon


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Economic data to start the second quarter implies a modest rebound is happening. The two most important factors in determining the pace of growth in the quarter will be household consumption and residential investment. Investors will get a look at an array of housing-related data this week, which will shape expectations about the direction of growth.

This week, the Federal Reserve Open Market Committee will publish the minutes from its April 29 meeting, which should put to rest any worries about a possible June rate increase. Currently, federal funds futures imply one 25 basis point rate hike this year and 50 basis points in rate hikes next year. Also this week, five Federal Reserve speakers will address the public, among them Fed Chair Janet Yellen who will deliver her U.S. economic outlook on Friday.

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