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Today's Economic Data Highlights: Final GDP, Fed Speeches, Consumer Sentiment
7:30: Dallas Fed President Richard Fisher on the US economy (in Brussels). Q&A scheduled. Mr. Fisher is a voting member of the FOMC this year.
8:30: GDP for Q4 (3rd estimate): Slightly higher. We expect the Commerce Department to revise up its estimate of Q4 GDP growth to 2.9% qoq annualized from 2.8% previously on slightly stronger inventory growth.
Median forecast (of 81): +3.0%; last (Q4 2nd estimate): +2.8%.
8:30: Chicago Fed President Charles Evans speaks to reporters. Mr. Evans is a voting member of the FOMC this year.
9:15: Atlanta Fed President Dennis Lockhart speaks on the US economic outlook. Q&A scheduled. Mr. Lockhart is not currently a voting member of the FOMC.
10:00 (9:55 to subscribers): Reuters/University of Michigan consumer sentiment (March final): The Michigan consumer sentiment survey takes on added importance today because of the discouraging results reported for the preliminary March release. In that report, the index of consumer sentiment declined to 68.2 from 77.5 previously, erasing four months of gains. In addition, the survey’s measure of longer-run inflation expectations – an indicator watched closely by the Fed – rose to 3.2% from 2.9%. A further rise in inflation expectations could potentially threaten our core inflation calls.
Median forecast (of 67): 68.0; last (March prelim): 68.2.
11:00: Fed monetized $4-5 billion of bonds due 09/30/2012 – 09/15/2013
12:15: Philadelphia Fed President Charles Plosser on “Beyond the Short-run: A Framework for Long-run Monetary Policy”. Q&A scheduled. Mr. Plosser is a voting member of the FOMC this year.
13:00: Dallas Fed President Richard Fisher speaks about creating jobs and fixing the economy (in Brussels). Q&A scheduled. Mr. Fisher is a voting member of the FOMC this year.
From Goldman and Zero Hedge
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12:15: Philadelphia Fed President Charles Plosser on “Beyond the Short-run: A Framework for Long-run Monetary Policy”
... ie ... Strategies on How to Daisy Chain HP Printers for Maximum Fiat Throughput
Ben is going to have 4 news conferences each year to explain the feds moves..can't wait.
question never to be asked:"the fed has caused system wide bubbles at multiple times in the recent past and present; why not liquidate the fed and return any assets & functions to the treasury?"
you don't want to do this with timmay still in office...you'd simply be handing over the functions of the Fed to JPM and GS directly.......not that they aren't dictating now, but.....
then they wouldn't even have to make phone calls to loot. we have to == at the very least=== make them say it out loud that they are stealing and destroying the future.
hand it over to timmy, then the books might have a chance of being open..the DOJ would have plenty of work as well as the Fed courts.
the sewer would be open for all to see ..if the system of our laws can be used by R Paul and others to bring this stinking crime scene to light.
"Atlas shrugged" movie trailer.. movie will be released April 15th 2011.
http://www.youtube.com/watch?v=5PK5Sq3bIHY
Richard Fisher, who heads the Dallas branch of the Fed, said that the world's biggest economy is no longer in need of further stimulus and the real question is when to begin tightening monetary policy. To embark on a third round of quantitative easing (QE) would "only prolong the injustice inflicted" on savers through inflation, Mr Fisher said.
http://www.telegraph.co.uk/finance/economics/8399586/Federal-Reserve-off...
I guess they all take off their togas and retire to the steam baths at 1400 to gossip and make deals.
"Until it doesn't"