Today's Economic Events

Tyler Durden's picture

Watch today’s Fed speakers for any sign that firmer core inflation has affected policy views:
7:35: Dallas Fed President Richard Fisher on “Monetary and Fiscal Policy Challenges in the United States” (in Frankfurt). Q&A scheduled. Mr. Fisher is a voting member of the FOMC this year.
8:00: Cleveland Fed President Sandra Pianalto on “The Economy: 2011 and Beyond”. Q&A scheduled. Ms. Pianalto is not a voting member of the FOMC this year.
8:30: Treasury Secretary Timothy Geithner addresses small business investment conference.
10:00: FHFA House Price Index (January): Still Weak. This index, which tracks the purchase price of homes with agency-conforming mortgages (i.e. it excludes homes with subprime and prime jumbo mortgages), has declined in six of the last seven months and is down 3.3% from a year earlier. Other measures of activity and prices in the housing market have disappointed recently, and we therefore expect that the trend in FHFA prices remains soft.
Median forecast (of 17): -0.3%; last -0.3%.
10:00: Richmond Fed survey (December): Another healthy result. Like the other regional activity indexes, the Richmond Fed series has pointed to healthy growth among surveyed manufacturing firms in recent months. The positive results for the Philadelphia Fed and Empire State indexes released last week suggest the momentum continued in March. Lately the survey has also shown rising prices for inputs and completed products, which likely reflects the rise in oil and other commodity prices. The Richmond Fed survey contains a separate set of questions sent to firms in service-providing industries, which is one of the few direct measures of services activity in the monthly indicator cycle.
Median forecast (of 10): +24; last +25.

11:00: POMO completed: $6.5-$8.5 billion in bonds due 09/30/2016 – 02/28/2018 monetized

Via Goldman Sachs

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GIANTKILR's picture

Wow! Maybe a slow news day. We need a break!

eigenvalue's picture

We may still have some breaking news. Like: The Bennank just gave birth to a baby in his office and the baby's father is Jamie Dimon.

goldenbuddha454's picture

For how long will Ben Bernochio print more money?  Its like a game of Hot Potato.  Bernanke throws the debt out to the primary dealers and they quickly toss it back when they've determined noone wants to buy it.  A week later, same thing.  Pretty soon there will be 100% return back to the fed from the pd's instead of 50%.

Josephine29's picture

There may not be much in US figures today but the UK has had higher inflation figures yet again. Whilst many will not look beyond the headline CPI figure of 4.4% I notice that Notayesmanseconomics has and points this out.

If we for a moment look at our old inflation target of RPI-X we can see that it is indicating an even larger problem than that shown by the current measure. It was targetted to be 2.5% and today it is at 5.5% which is 3% over what was its target. I have long argued that it is a superior measure to Consumer Price Inflation and therefore it means that our inflation problem is worse than the already poor headline figure.


 His policy prescription could be applied to the US as well....

overmedicatedundersexed's picture

news out of fla..18% of homes are vacant in those reits ben's got yur back.

this recession has been over how long??

oh I forgot the recession on wall st and major bank centers is over..the main st little people are no longer relevant and are to stay quite and not make waves as they are targets for elimination. food will become the next weapon for the oligargy  extinction plan.



Dan The Man's picture


Austerity comes to Alaska!  Congratulations to everyone.  Enjoy the occupation of the legislature!  

(It could be a long sit-in. Remember to pack some seal meat)