The economic calendar for the week of September 21-25 features a limited number of actual reports but includes significant activity from Federal Reserve officials, with at least 10 scheduled speeches. Market observers will be keenly interested in these discussions to gauge future interest rate trajectories following the Fed's rate hike during its September meeting.

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On Friday, September 25, a notable report will be the University of Michigan Consumer Sentiment Index. The preliminary reading indicated a significant decline in consumer sentiment for September, driven by increasing inflation concerns.

The following is the scheduled economic calendar for the week:

**Monday, September 21**

- 6:30 am: Chicago Fed President Austan Goolsbee speaks

**Tuesday, September 22**

- 10:05 am: New York Fed President John Williams speaks

- 10:20 am: Fed Vice Chair Philip Jefferson speaks

- 1:00 pm: Richmond Fed President Thomas Barkin speaks

**Wednesday, September 23**

- 9:45 am: S&P Global Flash Services Purchasing Managers Index (PMI) for September

- 9:45 am: S&P Global Flash Manufacturing PMI for September

- 10:05 am: Fed Governor Michael Barr speaks

**Thursday, September 24**

- 4:10 am: New York Fed President John Williams speaks

- 8:30 am: Weekly jobless claims for the week ending September 19

- 8:50 am: Cleveland Fed President Beth Hammack speaks

- 10:00 am: New home sales for August

- 10:10 am: Philadelphia Fed President Anna Paulson speaks

**Friday, September 25**

- 5:15 am: New York Fed President John Williams speaks

- 8:30 am: Durable goods for August

- 10:00 am: Revised University of Michigan Consumer Sentiment Index for September

- 2:00 pm: Cleveland Fed President Beth Hammack speaks

Consumer sentiment indicators suggest a continued worry about inflation, with expectations for price increases rising to 4.6% for the next year, the highest level since June. This concern is compounded by geopolitical tensions, including the war in Iran, indicating potential pressures on household spending. The preliminary Consumer Sentiment Index fell by 7.5% from August to September, recording a reading of 47.8, one of the lowest on record.

Joanne Hsu, director of the Surveys of Consumers at the University of Michigan, noted that the rise in fuel prices and ongoing trade tensions are increasing consumer anxiety. Brent Schutte, chief investment officer at Northwestern Mutual Wealth Management Company, also highlighted that inflation risks remain a significant concern, as evidenced by findings from recent surveys indicating that businesses plan to raise prices to manage increased costs.