by Bill McBride on 12/02/2015 09:50:00 PM
Wednesday, December 02, 2015
From the WSJ: Yellen Signals Fed on Track to Raise Rates in December
Federal Reserve Chairwoman Janet Yellen signaled she’s ready to raise short-term interest rates this month barring a surprise that shakes her confidence in the economy.Thursday:
She also suggested she sees dissension within her ranks, which could complicate her moves toward ending seven years of near-zero rates.
“I don’t need unanimity. I think we have to tolerate some dissent,” Ms. Yellen said Wednesday, in answer to a question after delivering a speech on the economic outlook. “I wouldn’t try to stifle dissents, and I would even expect some at critical junctures.”
• At 8:30 AM ET, The initial weekly unemployment claims report will be released. The consensus is for 270 thousand initial claims, up from 260 thousand the previous week.
• At 10:00 AM, Manufacturers' Shipments, Inventories and Orders (Factory Orders) for October. The consensus is a 1.4% increase in orders.
• Also at 10:00 AM, the ISM non-Manufacturing Index for October. The consensus is for index to decrease to 58.2 from 59.1 in October.
• Also at 10:00 AM, Testimony by Fed Chair Janet Yellen, Economic Outlook, Before the Joint Economic Committee, U.S. Senate, Washington, D.C.
• At 1:10 PM, Speech by Fed Vice Chairman Stanley Fischer, Financial Stability and Shadow Banks, At the Federal Reserve Bank of Cleveland Financial Stability Conference, Washington, D.C.
Posted by Bill McBride on 12/02/2015 09:50:00 PM