by Bill McBride on 1/07/2015 07:25:00 PM
Wednesday, January 07, 2015
Interesting from Jon Hilsenrath And Brian Blackstone at the WSJ: Fed Backs More Overseas Stimulus
Fed officials rarely comment on the decisions taken by foreign central banks and have generally played down risks to domestic growth emanating from abroad. Yet minutes of the Fed’s Dec. 16-17 policy meeting included several references to the urgency U.S. officials and market participants are placing on new policy actions to counteract slow growth outside the U.S.Thursday:
The minutes showed Fed officials “regarded the international situation as an important source of downside risks to domestic real activity and employment.” They added that the risks were particularly serious “if foreign policy responses were insufficient.”
In another place in the Fed minutes, officials warned that financial markets had been “importantly influenced by concerns about prospects for foreign economic growth and by associated expectations of monetary policy actions in Europe and Japan.”
• At 8:30 AM ET, the initial weekly unemployment claims report will be released. The consensus is for claims to increase to 300 thousand from 298 thousand.
• Early, Trulia Price Rent Monitors for December. This is the index from Trulia that uses asking house prices adjusted both for the mix of homes listed for sale and for seasonal factors.
• At 3:00 PM, Consumer Credit for November from the Federal Reserve. The consensus is for credit to increase $15.0 billion.
Posted by Bill McBride on 1/07/2015 07:25:00 PM