Wednesday, November 04, 2015

FOMC's Yellen, Dudley: December Meeting is "Live"

by Bill McBride on 11/04/2015 08:13:00 PM

Thursday:
• At 8:30 AM ET, the initial weekly unemployment claims report will be released. The consensus is for 262 thousand initial claims, up from 260 thousand the previous week.

From Binyamin Appelbaum at the NY Times: Yellen Signals a Fed Tilt Toward December Rate Increase

“At this point, I see the U.S. economy as performing well,” [Fed Chair Janet Yellen] said, noting the strength of domestic spending. Volatility in global financial markets has also diminished, and the recent deal to raise the federal debt ceiling averted a fiscal showdown, removing two threats to continued growth. If the good news continues, she said, “December would be a live possibility.”
From Reuters: Dudley,Yellen concur: December in play for rate hike
New York Fed President William Dudley, addressing reporters, said he would "completely agree" with Fed Chair Janet Yellen who had earlier said December is in play for a policy tightening if the economic data points to further improvement in the labor market and to a rebound in inflation.