Fed, U.S. GDP, Jobs Data, BP, UBS: Week Ahead July 26-Aug. 2

The U.S. Federal Open Market Committee releases its monetary policy statement as a pickup in the world’s biggest economy sharpens debate over timing of the first benchmark interest-rate increase since 2006.

The U.S. economy probably expanded in the second quarter as payrolls increased and the jobless rate held at 6.1 percent in July, separate reports in the coming week may show.