The September 26 week includes the return of Fed policymakers to the public speaking circuit will provide an opportunity to sift among the Committee members' respective opinions about the September 21 decision to provide additional accommodation in the form of increasing the average maturity of the Fed's portfolio. The economic data calendar is also reasonably busy, however, most of the excitement will be reserved for the following week when the September employment report is released.
Three themes run through the week's scheduled releases: the factory sector, the housing market, and consumer confidence.
The Richmond Fed Manufacturing Survey on Tuesday will probably join last week's factory reports in reflecting severe weather impacts. Although flooding was less extensive in the more southern District, there were widespread and prolonged power outages and disruptions in late summer tourism, as well as some damage and unease after the earthquake on August 23.
The Dallas Fed's Texas Manufacturing Outlook on Monday could also show some weather impacts as oil production in the Gulf of Mexico was restrained as a series of strong storms blew through the area.
The Kansas City Survey of Manufacturing on Thursday will probably be the best of the reports. The index has remained positive for the past two years, and although recent months have showed some slowing, growth continues.
The Chicago Purchasing Managers Business Barometer for September on Friday will be grouped...Read more