Due to the federal government shutdown, reports on the
employment situation, factory orders, and construction spending
were not released as scheduled last week. Note, no alternative
release dates have been set amid uncertainty surrounding how long
the shutdown will last.
If the government remains shut down, MT Newswires does not
expect to receive reports on the trade balance, JOLTS (Job Openings
and Labor Turnover Survey), wholesale inventories, the import price
index, the monthly budget statement, the Producer Price Index,
retail sales, or business inventories.
The minutes from the September Federal Open Market Committee
meeting and separate reports on consumer credit, small business
optimism (from the National Federation of Independent Business),
weekly jobless claims, and consumer sentiment (University of
Michigan) will be released regardless of the status of the
Separately, the schedule of Federal Reserve speakers will also
3PM - Consumer credit, August (consensus +$12.0 billion, last
+$10.4 billion). Consumer credit rose an average of $13.1 billion
per month over the past year. The consensus is for a similar gain
Consumer credit outstanding currently exceeds its pre-crisis
peak, driven primarily by an increase in non-credit card debt.
Nevertheless, the household debt service ratio (which is defined as
the ratio of total debt service payments to disposable personal
income) is still at lows, likely due to low interest rates.
07:30PM Dallas Fed President Fisher (FOMC non-voter) speaks
President Fisher is known for his more hawkish monetary policy
views. He recently noted that he was concerned about the long-term
risks of the Fed's large balance sheet and would have preferred the
Fed to have already begun reducing the rate of asset purchases.
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