Today's Economic Data Highlights

Tyler Durden's picture

Three Fed speeches and the quarterly survey of senior bank lending officers…
12:30: St. Louis Federal Reserve President James Bullard speaks on the possibility of a Japanese-style, deflationary scenario for the US economy…to the New York Society of Security Analysts.  This sounds like it could be a reprise of a paper he wrote during the summer, in which he argued that large scale asset purchases (LSAPs) would be preferable to a commitment to keep the short-term policy rate low for an extended period as a means of stimulating growth, but with the added perspective that LSAPs are now on the way.  Mr. Bullard is currently a voting member of the FOMC.
13:00: Dallas Fed President Richard Fisher speaks on the impact of financial reform on economic recovery….to a conference of the Association for Financial Professionals, in San Antonio.  Mr. Fisher is not currently a voting member of the FOMC; his next turn comes in 2011.
14:00: Senior Bank Loan Officers Survey for October….is credit getting easier?  Earlier readings in 2010 have shown progress in stabilization and then some modest easing in lending standards, also some stabilization in the demand for credit.
15:30: Federal Reserve Governor Kevin Warsh speaks on “The Economy and the Conduct of Monetary Policy”…to the annual meeting of the Securities Industry and Financial Markets Association, in New York.  In an op-ed piece in today’s Wall Street Journal, Gov. Warsh described the FOMC’s recent decision to buy longer-term Treasury Securities as “necessarily limited, circumscribed, and subject to regular review” in piece that called for more supply-oriented policies.  He closed by asserting his confidence that the “FOMC will have the tools and conviction to adjust policies appropriately.”  Presumably, his speech to the SIFMA meeting will echo similar themes.

From Goldman and Zero Hedge

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chinaguy's picture


The Fed’s move to buy $600 billion of Treasuries could contribute “tremendously” to global growth, Vice Finance Minister Wang Jun said after Asia-Pacific Economic Cooperation forum finance chiefs met in Kyoto, Japan, Nov. 6. At the same gathering, Geithner said current-account deficits or surpluses aren’t “something that is amenable to limits or targets.”

These boys just cut a deal

cossack55's picture

Can't these scumbacks just crawl back to the Reich's Finanz Ministry and keep their corrupt pie holes shut.  The only time they tell the truth is when they are silent. Pigs.

Spartan's picture

Thanks 99er, good stuff...

snowball777's picture

These "seniors" do not deserve any title involving the word 'lend'...

Spartan's picture

How much QE Lite POMO do we have left?

Lord Blankcheck's picture

lats POMO today 11/8

New schedule released wed @2pm ET(NYFed website)

SheepDog-One's picture

Hell with the money tinkerers, buy silver.

SheepDog-One's picture

Hell with the money tinkerers, buy silver.

SheepDog-One's picture

Hell with the money tinkerers, buy silver.

Spartan's picture

FT headline - Obama defends QE2 ahead of G20

Yep Larry Summers did a "heck of a job" on the President.

SheepDog-One's picture

Hell with the money tinkerers, buy silver.

bigdumbnugly's picture

i think what the ol' sheepdog means to say is to hell with the money tinkerers and buy silver.

kato's picture

BUT... THEY did not call it "Inflation" when housing prices were running up 1% per month ("not part of inflatin statistics"), BUT now that housing prices are going down or threaten to, THEY call it deflation. THEY want it both ways. BS. This is just more effort to protect the banks (balance sheets). The country will be better off with lower more affordale housing prices; not bubble housing prices. Fed = agents for crooks.

Grand Supercycle's picture

My long term indicators continue to warn of USD strength and EURO weakness.