Head Start at Video Game Jamboree; Fed Expected to Raise Interest Rate Again

Here’s a look at what’s coming up this week.

TECHNOLOGY

As E3 starts, companies pitch new products.

The video game industry’s annual jamboree, E3, is set to open in Los Angeles on Tuesday, but some of the biggest companies in the business will begin their quest to build buzz before then. On Sunday, Microsoft revealed a new game console that supports 4K video, called Xbox One X. It will go on sale on Nov. 7. On Monday, Sony is expected to promote exclusive games for its PlayStation 4, while Nintendo on Tuesday plans to show off games for its new Switch console, including the much-anticipated Super Mario Odyssey. Nick Wingfield

ECONOMY

A third straight quarterly rate increase is expected.

The Federal Reserve is expected to raise its benchmark interest rate on Wednesday after a two-day meeting of its policy-making committee. That would be the Fed’s third straight quarterly rate increase; the benchmark rate would rise to a range between 1 percent and 1.25 percent. With the increase viewed as a foregone conclusion, attention has shifted to what comes next. The Fed has been devising plans to reduce its investment holdings, a final stage in unwinding its postcrisis economic stimulus program. Janet L. Yellen, the Fed’s chairwoman, could discuss those plans at a news conference on Wednesday afternoon. The Fed’s policy statement, and Ms. Yellen’s comments, will also shape expectations about the likelihood of another rate increase in September. Binyamin Appelbaum

New retail sales data may show a tiny rise.

On Wednesday, at 8:30 a.m., the Commerce Department will report data on retail sales in May. Economists are forecasting a 0.1 percent rise in overall retail sales, which they believe were held back by anemic automobile sales and gas purchases. Excluding those more volatile categories, economists expect a gain of 0.2 percent. If the data turns out to be weaker than that, or there is softness beyond those two particular sectors, look for economists to…

Read the full article from the source…

Leave a Reply

Your email address will not be published. Required fields are marked *