If there’s one thing the White House, economists and basically everyone
who thinks about money can agree on, it’s that this is going to be a big
week for economic news. 

— On Tuesday, we get new consumer confidence numbers, a measure which
has fallen for two consecutive months. Last month’s report showed the
Consumer Confidence Index at its lowest level since February 2021 and
the Expectations Index — “consumers’ short-term outlook for income,
business, and labor market conditions,” per the Conference Board — at
its lowest level since 2013.

— On Wednesday, the Fed will meet and make a decision on just how much
to raise interest rates. After the most recent inflation numbers, most
observers expect a hike of .75 percentage points. That would be the
fourth rate increase this year.

— On Thursday, the GDP numbers for the second quarter will drop, and
economists expect they’ll show a decline of 1% to 2%. It would be the
second straight quarter of decline — which is often seen as signaling a
recession. 

And Playbook's Eugene Daniels chats with POLITICO White House Bureau
Chief Jonathan Lemire about his newest book, "The Big Lie."

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