RSS Feed by Calculated Risk on 6/18/2015 08:36:00 AM
Thursday, June 18, 2015
CPI increased 0.4% in May, Weekly Initial Unemployment Claims decreased to 267,000
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4 percent in May on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index was unchanged before seasonal adjustment.
Wednesday, June 17, 2015
Thursday: Unemployment Claims, CPI, Philly Fed Mfg Survey
by Calculated Risk on 6/17/2015 08:34:00 PM
Off topic: A bizarre sight in California ... crabs attack!
Click on photo for larger image.
Photo taken at China Cove in Newport Beach, CA by Steven.
Report: Socal Home Sales up 5% year-over-year
by Calculated Risk on 6/17/2015 05:55:00 PM
Note: This is the data that used to be released by DataQuick (now part of CoreLogic).
FOMC Projections and Press Conference
by Calculated Risk on 6/17/2015 02:13:00 PM
Statement here, "economic activity has been expanding moderately".
As far as the "Appropriate timing of policy firming", participant views were unchanged on the timing of the first rate hike (15 participants expect the first rate hike in 2015, and 2 in 2016), but "dots" moved down (fewer rate hikes this year and next).
The FOMC projections for inflation are still on the low side through 2017.
Yellen press conference here.
On the projections, GDP for 2015 was revised down, the unemployment rate was revised up slightly, and inflation projections were mostly unrevised.
FOMC Statement: No Change in Policy, Economy Expands Moderately
by Calculated Risk on 6/17/2015 02:00:00 PM
Information received since the Federal Open Market Committee met in April suggests that economic activity has been expanding moderately after having changed little during the first quarter. The pace of job gains picked up while the unemployment rate remained steady. On balance, a range of labor market indicators suggests that underutilization of labor resources diminished somewhat. Growth in household spending has been moderate and the housing sector has shown some improvement; however, business fixed investment and net exports stayed soft. Inflation continued to run below the Committee's longer-run objective, partly reflecting earlier declines in energy prices and decreasing prices of non-energy imports; energy prices appear to have stabilized. Market-based measures of inflation compensation remain low; survey-based measures of longer-term inflation expectations have remained stable.
