Today's Economic Data Highlights
The administration’s FY 2012 budget and one Fed appearance of note…There is a micro $1-2 billion TIPS POMO to celebrate Valentine's day.
10:00: New York Fed President William Dudley speaks on the regional economy…at a briefing with the bank’s economists, at which he will release the fourth-quarter “Quarterly Household Debt and Credit Report.” While the event is billed as covering the regional economy, Mr. Dudley will take questions, which will undoubtedly cover broader issues of national concern.
10:30: The President’s FY 2012 budget. The time shown is when the documents are supposed to be available on the OMB website. However, the broad outlines have already been previewed, dating back to the State of the Union address in late January. The highlights: a 5-year freeze in discretionary spending, including cuts in defense and many nondefense programs, resurrection of the administration’s original proposal to limit tax cut extensions (past 2012) to those earning $250,000 or less, and phase-outs of deductions for upper-income taxpayers. The plan claims savings of $1.1trn over the FY 2012-2021 period.
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