Economic Calendar 2025
Track major economic events including FOMC meeting dates, Federal Reserve decisions, CPI releases, jobs reports, GDP data, and other market-moving indicators. Never miss critical economic events.
FOMC Meetings
8
in 2025
Next FOMC
Jan 28-29
Press Conference
Monthly Reports
12+
Key Indicators
High Impact
25+
Events/Quarter
Upcoming Economic Events
Major market-moving economic releases and central bank meetings
| Date | Time | Event | Impact | Previous | Forecast | Actual |
|---|---|---|---|---|---|---|
Jan 10 Fri | 08:30 AM EST | Non-Farm Payrolls (NFP) US | High | 227K | 150K | - |
Jan 11 Sat | 08:30 AM EST | Consumer Price Index (CPI) US | High | 2.7% | 2.8% | - |
Jan 29 Wed | 02:00 PM EST | FOMC Meeting Decision US | High | 4.50% | 4.50% | - |
Jan 30 Thu | 08:30 AM EST | GDP Growth Rate (Q4 2024 Advance) US | High | 3.1% | 2.6% | - |
Feb 7 Fri | 08:30 AM EST | Unemployment Rate US | High | 4.2% | 4.2% | - |
Feb 13 Thu | 08:30 AM EST | Producer Price Index (PPI) US | Medium | 3.0% | 2.8% | - |
Feb 14 Fri | 08:30 AM EST | Retail Sales US | Medium | 0.7% | 0.5% | - |
Mar 19 Wed | 02:00 PM EST | FOMC Meeting Decision US | High | 4.50% | 4.25% | - |
Mar 28 Fri | 08:30 AM EST | Personal Consumption Expenditures (PCE) US | High | 2.4% | 2.5% | - |
Apr 1 Tue | 10:00 AM EST | ISM Manufacturing PMI US | Medium | 48.4 | 49.0 | - |
FOMC Meeting Schedule 2025
Federal Reserve Federal Open Market Committee meeting dates - All meetings include press conferences
January 28-29, 2025
2:00 PM EST Decision
March 18-19, 2025
2:00 PM EST Decision
May 6-7, 2025
2:00 PM EST Decision
June 17-18, 2025
2:00 PM EST Decision
July 29-30, 2025
2:00 PM EST Decision
September 16-17, 2025
2:00 PM EST Decision
November 4-5, 2025
2:00 PM EST Decision
December 16-17, 2025
2:00 PM EST Decision
What is FOMC and Why It Matters
The Federal Open Market Committee (FOMC)
The FOMC is the monetary policymaking body of the Federal Reserve System. It consists of 12 members: the seven members of the Board of Governors and five Reserve Bank presidents.
Why FOMC Meetings Matter
- •Interest Rates: Sets the federal funds rate, affecting all borrowing costs
- •Stock Valuations: Rate changes impact how stocks are valued
- •Dollar Strength: Higher rates typically strengthen the US dollar
- •Economic Growth: Monetary policy affects business investment and consumer spending
What to Watch For
Markets react to both the rate decision and the accompanying statement. Pay attention to the "dot plot" (FOMC members' rate projections), economic projections, and the Chair's press conference for forward guidance.
Understanding CPI and Inflation
Consumer Price Index (CPI)
CPI measures the average change over time in prices paid by consumers for a basket of goods and services. It's the most widely watched inflation indicator.
Components of CPI
- •Food and Beverages: Grocery items, dining out (~14% of CPI)
- •Housing: Rent, owner's equivalent rent (~42% of CPI)
- •Energy: Gasoline, electricity, natural gas (~7% of CPI)
- •Medical Care: Healthcare services and insurance (~9% of CPI)
Core CPI vs Headline CPI
Core CPI excludes volatile food and energy prices, providing a better view of underlying inflation trends. The Fed focuses more on Core CPI for policy decisions as it's less affected by temporary shocks.
Employment Data Interpretation
Non-Farm Payrolls (NFP)
The monthly jobs report shows how many jobs were added or lost in the US economy, excluding farm workers, government employees, and non-profit organizations. It's released the first Friday of each month.
Key Employment Metrics
- •Unemployment Rate: Percentage of labor force actively seeking work
- •Labor Force Participation: Percentage of working-age population in labor force
- •Average Hourly Earnings: Wage growth indicator affecting consumer spending
- •Average Weekly Hours: Total hours worked affects productivity
How Markets React
Strong job growth can be positive (economic strength) or negative (inflation concerns). The market's reaction depends on where we are in the economic cycle and the Fed's policy stance.
GDP and Economic Health
Gross Domestic Product (GDP)
GDP measures the total value of all goods and services produced in the economy. It's the broadest measure of economic activity and health, reported quarterly in annualized percentage terms.
Components of GDP
- •Consumer Spending (C): ~70% of GDP - retail sales, services
- •Business Investment (I): ~18% - equipment, structures, software
- •Government Spending (G): ~17% - federal, state, local expenditures
- •Net Exports (NX): Exports minus imports
GDP Growth Benchmarks
Healthy GDP growth is typically 2-3% annually. Above 3% suggests strong expansion, while negative GDP growth for two consecutive quarters technically indicates a recession.
Key Economic Indicators Glossary
Essential metrics that move markets and influence Fed policy
•PCE Price Index
Personal Consumption Expenditures - The Fed's preferred inflation gauge. Tracks price changes for all consumer spending including healthcare paid by employers.
•Producer Price Index (PPI)
Measures wholesale/producer prices. Leading indicator for consumer inflation as producer cost increases often pass through to consumers.
•Retail Sales
Total receipts at retail stores. Key indicator of consumer spending strength, which drives 70% of GDP. Excludes services spending.
•ISM Manufacturing PMI
Survey of purchasing managers. Above 50 = expansion, below 50 = contraction. Leading indicator that often predicts economic turning points.
•Initial Jobless Claims
Weekly report of new unemployment benefit applications. Real-time indicator of labor market health. Rising claims suggest weakening employment.
•Consumer Confidence
Survey measuring consumer optimism about economy and personal finances. Strong confidence often leads to increased spending and economic growth.
•Housing Starts
Number of new residential construction projects. Leading economic indicator as housing drives jobs, consumer spending, and business investment.
•Durable Goods Orders
Orders for goods lasting 3+ years (cars, appliances, machinery). Indicator of business investment and manufacturing strength.
Frequently Asked Questions
Common questions about economic calendars and indicators
What is the economic calendar and why is it important?
An economic calendar is a schedule of key economic data releases, central bank meetings, and major financial events. It's important because these events can significantly impact stock prices, currency values, and bond yields. Traders and investors use economic calendars to anticipate market volatility and make informed decisions.
When are FOMC meeting dates in 2025?
The Federal Open Market Committee (FOMC) meets eight times per year in 2025: January 28-29, March 18-19, May 6-7, June 17-18, July 29-30, September 16-17, November 4-5, and December 16-17. All meetings include a press conference where the Fed Chair explains policy decisions.
What is the FOMC and why do FOMC meetings matter?
The Federal Open Market Committee (FOMC) is the monetary policymaking body of the Federal Reserve. FOMC meetings determine interest rates, which affect borrowing costs, stock valuations, currency strength, and economic growth. Rate decisions can trigger significant market movements across all asset classes.
When is the next jobs report and CPI release?
The Non-Farm Payrolls (jobs report) is typically released on the first Friday of each month at 8:30 AM EST. The Consumer Price Index (CPI) is usually released mid-month around the 10th-15th at 8:30 AM EST. Check our calendar for exact dates as they can vary due to holidays.
What is CPI and how does it affect the stock market?
The Consumer Price Index (CPI) measures inflation by tracking price changes for consumer goods and services. Higher than expected CPI often leads to stock market declines because it suggests the Federal Reserve may raise interest rates to combat inflation. Lower CPI can boost stocks by reducing rate hike expectations.
What is the difference between CPI and PCE inflation?
CPI (Consumer Price Index) measures out-of-pocket consumer spending, while PCE (Personal Consumption Expenditures) includes all consumption including employer-paid healthcare. The Federal Reserve prefers PCE as it captures substitution effects and covers broader spending. PCE tends to run slightly lower than CPI.
How do employment reports impact markets?
Strong job growth typically boosts stocks by signaling economic health but can also increase rate hike expectations. Weak employment data may hurt stocks due to recession fears but could support them by reducing pressure on the Fed to raise rates. The market reaction depends on whether jobs growth is 'too hot' or 'too cold' relative to Fed targets.
What is Non-Farm Payrolls (NFP) and why is it important?
Non-Farm Payrolls measures the monthly change in US employment excluding farm workers, government employees, and non-profit workers. It's one of the most market-moving indicators because it shows labor market strength, influences Fed policy, and affects consumer spending which drives 70% of GDP.
When is the GDP report released?
GDP (Gross Domestic Product) is released quarterly in three versions: Advance (one month after quarter ends), Preliminary (two months after), and Final (three months after). For example, Q4 2024 GDP is released in late January 2025 (Advance), late February (Preliminary), and late March (Final).
What is GDP and what does it measure?
Gross Domestic Product (GDP) measures the total value of all goods and services produced in an economy. It's the primary indicator of economic health and growth. GDP includes consumer spending, business investment, government spending, and net exports. Strong GDP growth typically supports stock prices.
How does the Fed use economic data to set interest rates?
The Federal Reserve uses a dual mandate: maximum employment and price stability (2% inflation target). They analyze employment data (jobs reports, unemployment), inflation metrics (CPI, PCE), GDP growth, and other indicators. Strong employment + high inflation typically leads to rate hikes, while weak growth + low inflation leads to rate cuts.
What is the Producer Price Index (PPI)?
The Producer Price Index (PPI) measures average price changes from the perspective of domestic producers/sellers. It's a leading indicator for consumer inflation because producer cost increases often get passed to consumers. Rising PPI can signal future CPI increases and influence Fed policy expectations.
What are retail sales and why do they matter?
Retail sales measure the total receipts of retail stores, tracking consumer spending patterns. Since consumer spending accounts for about 70% of US GDP, retail sales are a critical indicator of economic health. Strong retail sales suggest consumer confidence and economic growth.
What is the ISM Manufacturing PMI?
The Institute for Supply Management (ISM) Manufacturing Purchasing Managers' Index surveys purchasing managers in the manufacturing sector. A reading above 50 indicates expansion, below 50 indicates contraction. It's a leading economic indicator that often predicts turning points in the business cycle.
How can I use the economic calendar for trading?
Use the economic calendar to anticipate volatility and plan trades accordingly. High-impact events like FOMC decisions and jobs reports can cause significant price swings. Many traders avoid opening positions before major releases or use the calendar to identify trading opportunities based on expectations vs. actual data.
What time are major economic reports released?
Most US economic reports are released at 8:30 AM EST (employment data, CPI, GDP, retail sales). FOMC decisions are announced at 2:00 PM EST. ISM reports come out at 10:00 AM EST. These release times create concentrated periods of market volatility as traders react to the data.
What is the unemployment rate and how is it calculated?
The unemployment rate is the percentage of the labor force that is jobless and actively seeking employment. It's calculated by dividing unemployed persons by the total labor force. The Fed targets around 4% unemployment as consistent with maximum employment. Very low unemployment can signal inflation risks.
How do central bank meetings affect currency markets?
Central bank meetings affect currencies through interest rate differentials. Higher rates typically strengthen a currency by attracting foreign investment seeking higher yields. FOMC hawkish statements (suggesting rate hikes) usually boost the US dollar, while dovish signals (suggesting cuts) weaken it.
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