There Are Two Important Economic Reports Coming, And You Can Bet The Fed Will Be Watching

Recent economic data have been overwhelmingly positive in the U.S., and it has forced several economists to crank up their GDP growth forecasts this week.

Today, we'll get reads on inflation and jobs, both of which are measure that the Federal Reserve is employing to guide monetary policy.

Here's preview from Calculated Risk's Bill McBride:

• At 8:30 AM, The initial weekly unemployment claims report will be released. The consensus is for claims to increase to 350 thousand from 340 thousand last week.
• Also at 8:30 AM, the Producer Price Index for February. The consensus is for a 0.6% increase in producer prices (0.1% increase in core).