This week: Fed meeting, home sales, Nike earnings

A look at some of the key business events and economic indicators upcoming this week:

Watching the Fed

The Federal Reserve will close a two-day meeting on Wednesday with its latest decision on whether to keep raising interest rates in an effort to tame inflation, and by how much.

The central bank has been increasing rates in an effort to make borrowing more difficult and slow the economy. Inflation has been cooling, but the policy risks the economy slowing too much and falling into a recession. The situation has grown more complicated following several bank failures.

Federal Open Market Committee target federal funds rate range.

June 16 1.50%-1.75%

July 28 2.25%-2.50%

September 22 3.00%-3.25%

November 3 3.75%-4.00%

December 15 4.25%-4.50%

February 2 4.50%-4.75%

Source: The Federal Reserve

Home sales

The National Association of Realtors releases its report on February sales of previously occupied homes on Tuesday. Those sales have declined for 12 months in a row as the Federal Reserve raises interest rates in an effort to tame inflation. The policy has prompted a jump in mortgage rates over that same period, making home purchases more difficult, especially for first-time homebuyers. Economists expect existing home sales to rise in February.

Seasonally adjusted annual rate. Source: FactSet.

September 4.68 million

October 4.44 Million

November 4.12 million

December 4.03 million

January 4.00 million

February (est.) 4.16 million

Source: FactSet

Nike

Nike reports its latest financial results on Tuesday. The company reported surprisingly good results during its fiscal second quarter, but economists expect the sneaker and athletic apparel company to report a big drop in its fiscal third-quarter profit from a year ago. The results come amid increasing worries about economic growth and a potential recession under the weight of persistent inflation. Overall retail sales have been volatile, falling in February following a surprise jump in January.