Wednesday is set to be a crucial day for economic news, with significant updates on inflation and the Federal Reserve’s response.

The day begins with the release of the consumer price index (CPI) for May and concludes with the Fed’s policy meeting.

These events will provide key insights into the economy’s direction and the Fed’s future actions.

UBS economist Jonathan Pingle noted that the day condenses months of economic risk into a single day, CNBC has reported.

Many Wall Street analysts, including Pingle, anticipate that the CPI report, alongside recent strong job data, will influence the Fed’s outlook on inflation, economic growth, and interest rates.

Written by B.C. Begley