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Thursday, November 21, 2013

Friday: JOLTS, Kansas City Mfg Survey

by Calculated Risk on 11/21/2013 07:53:00 PM

From the Financial Times: Fed chair nominee Janet Yellen wins Senate committee backing

US Federal Reserve chair nominee Janet Yellen received approval by the Senate banking committee on Thursday, clearing the way for a full Senate vote possibly before the end of the year.
And here is a clueless comment from Senator Marco Rubio:
"While Dr Yellen is an accomplished individual, I will be voting against her nomination to chair the Fed because of her role as a lead architect in authoring monetary policies that threaten the short and long-term prospects of strong economic growth and job creation."
That is complete nonsense and shows Rubio (and many others) do not understand monetary policy.   Larry Summers is correct: Summers Says History Will Favor Fed's QE `98 to 2'

• At 10:00 AM ET, the Job Openings and Labor Turnover Survey for September from the BLS. This results of this survey has been mentioned by Fed Chair nominee Janet Yellen.  In general, the number of job openings has been increasing.

• Also at 10:00 AM, the Regional and State Employment and Unemployment (Monthly) for October 2013.

• At 11:00 AM, the Kansas City Fed manufacturing survey for November. The consensus is for a reading of 6, unchanged from last month (above zero indicates expansion).