Key Economic Indicators To Watch This Week: Fed Minutes, Inflation Data, Crypto Earnings

Key Takeaways

• The Federal Reserve’s meeting minutes may provide insight into how policymakers view inflation and the timing of rate cuts.
• Inflation in the U.K. and Japan is expected to have accelerated in January, adding pressure on central banks.
• Investors will also watch Riot Platforms’ earnings and Semler Scientific’s expanding Bitcoin holdings.

With U.S. markets closed Monday for Presidents Day, trading volumes may be lighter, potentially amplifying volatility if major news breaks.

The Federal Reserve’s meeting minutes, set for release on Wednesday, will be a focal point for investors seeking clarity on rate-cut prospects. Meanwhile, inflation data from the U.K. and Japan could further complicate global monetary policy outlooks.

In crypto, Riot Platforms’ earnings report and Semler Scientific’s growing Bitcoin reserves underscore the sector’s increasing influence in financial markets. A potentially volatile week lies ahead.

Fed Minutes Take Center Stage

The week kicks off with a U.S. market holiday, but attention quickly shifts to Wednesday’s release of minutes from the Federal Reserve’s latest meeting.

While the Fed’s decision to hold interest rates steady is already known, the minutes will offer deeper insights into policymakers’ discussions, particularly their views on inflation and the path for rate cuts.

Given recent inflation data exceeding expectations, investors will analyze the minutes for any signs that Fed officials are growing more cautious about easing policy.

If the tone suggests hesitancy or concern over inflation’s persistence, market expectations for rate cuts—currently anticipated for later this year—could shift. That, in turn, may lead to volatility across equities, bonds, and currencies.

Holiday-shortened weeks tend to have lower liquidity, increasing the potential for sharp moves if investors react strongly to the Fed report.

U.K. and Japan Inflation in Focus

Beyond the Fed, macroeconomic attention will turn to inflation reports from the U.K. and Japan, both of which could influence their respective central banks’ next steps.

In the U.K., consumer prices are expected to have risen 2.8% in January from a year earlier, up from December’s 2.5% increase.

The acceleration is driven in part by new VAT policies on private school fees and a rebound in airfare prices.

While this projection aligns with the Bank of England’s forecast of inflation peaking at 3.7% by mid-2025, the data could complicate the timing of rate cuts—especially as two BoE policymakers had previously pushed for an aggressive reduction.

In Japan, core inflation is projected to have jumped to 3.1% in January, its highest level in 17 months. Rising food costs and reductions in energy subsidies have fueled the price increases.

To ease the pressure, the Japanese government has announced plans to release 210,000 metric tons of stockpiled rice to stabilize food prices, as staple costs have surged to record highs.

If inflation remains sticky in both economies, central banks may delay policy easing, affecting global markets.

Semler Joins Bitcoin’s Top Holders, Riot Earnings Awaited

In the crypto sector, analysts will keep a close eye on Semler Scientific and Riot Platforms, which are set to release their quarterly earnings.

Semler Scientific will publish its report on Wednesday, Feb. 19. The company has captured attention for its aggressive Bitcoin acquisition strategy.

Between Jan. 11 and Feb. 3, the company purchased 871 BTC for $88.5 million, averaging $101,616 per Bitcoin. By early February, its total Bitcoin holdings had reached 3,192 BTC, acquired at an average price of $87,854 per Bitcoin—bringing its total investment to $280 million.

If Bitcoin prices remain stable, Semler’s holdings represent a potential $313 million valuation, positioning it among the top 10 private companies globally with significant BTC reserves. Its Bitcoin-heavy strategy cements its place alongside corporate pioneers like MicroStrategy in the institutional crypto landscape.

Crypto mining leader Riot will publish its quarterly report on Feb. 24.

Analysts expect the Bitcoin mining company to report a loss of $0.18 per share, an improvement from the previous quarter’s $0.54 loss.

Riot has exceeded earnings expectations half the time over the past year, while the broader industry has outperformed at a 71% rate. Despite mixed financials, Riot’s stock has outpaced its sector’s performance over the past year.