Federal Reserve Chair Jerome Powell faces the challenge of balancing rising prices and a fragile job market as a key US inflation gauge is expected to show a 2.9% rise in July from a year ago. Powell expressed concerns over both inflation and job market risks at the Jackson Hole conference. Investors await Fed officials’ comments for hints on a September rate cut.

In addition to inflation data, the US will release a report showing a significant increase in household spending in July. Economists will also analyze personal income data to assess consumer spending, a crucial driver of economic growth. Revised second-quarter GDP data is expected to show a moderate pickup in personal consumption after a slow start to the year.

Canada’s second-quarter GDP figures may reflect negative impacts from the US trade war, while India, South Korea, and the Philippines will report second-quarter GDP. Germany’s Ifo report will provide insights into how businesses are responding to trade turmoil. Investors will closely monitor global economic updates in the coming week for potential market impacts.

Read more at Yahoo Finance: US Inflation to Edge Up as Powell Shifts on Job Market