By Sarah Chaney 

In the week ahead, the Federal Reserve releases its policy statement, while the U.S. Commerce Department releases gross-domestic product revisions, personal-income and durable-goods data.

WEDNESDAY

The U.S. Federal Reserve releases its policy statement and holds a press conference. Solid U.S. growth, low unemployment and stable inflation have kept the Fed on track to raise its benchmark rate at this week's meeting from its current range between 1.75% and 2%. Because the rate increase is so widely expected, bigger questions surround how Fed Chairman Jerome Powell will characterize decision-making around the path of rate increases next year.

THURSDAY

The U.S. Commerce Department releases August durable-goods data. In July, demand for long-lasting goods produced by U.S. factories fell 1.7% from the prior month. Economists surveyed by The Wall Street Journal expect durable goods orders rose 1.7% in August.

The U.S. Commerce Department releases its third estimate of second-quarter gross domestic product. Gross domestic product -- the value of goods and services produced across the economy -- rose at a 4.2% annual rate in the second quarter, according to the most recent report. Economists surveyed by The Wall Street Journal expect this rate was unrevised.

FRIDAY

The U.S. Commerce Department releases August personal income and outlays. Personal income increased 0.3% in July from the prior month, while personal spending rose 0.4%. The personal consumption expenditures index rose 2.3% in July compared with a year earlier. Economists surveyed by The Wall Street Journal forecast personal income climbed by 0.4%, while consumer spending increased 0.3% in August.

The University of Michigan releases its final September U.S. consumer sentiment reading. The preliminary release showed that consumer sentiment rose to the second-highest level since 2004. Economists surveyed by The Wall Street Journal forecast September's consumer-sentiment index clocked in at 100.2.

Write to Sarah Chaney at sarah.chaney@wsj.com

(END) Dow Jones Newswires

September 23, 2018 12:09 ET (16:09 GMT)