Economic Schedule for Week of March 5, 2023
The key report scheduled for this week is the February employment report-see moar below on that. Fed Chair Powell presents the Semiannual Monetary Policy Report to the Congress on Tuesday and Wednesday….(yawn)
GDPNOW gets updated on Tuesday-currently at 2.3% and lowered from 2.5% on March 1st
https://www.atlantafed.org/cqer/research/gdpnow
No major economic releases scheduled.
8:00 AM: Corelogic House Price index for January.
10:00 AM: Testimony, Fed Chair Jerome Powell, Semiannual Monetary Policy Report to the Congress, Before the U.S. Senate Committee on Banking, Housing, and Urban Affairs
7:00 AM ET: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index…(currently sitting on 1995 lows for the refinance index)'''
8:15 AM: The ADP Employment Report for February. This report is for private payrolls only (no government). The consensus is for 195,000 payroll jobs added in February, up from 106,000 added in January.
10:00 AM ET: Job Openings and Labor Turnover Survey for January from the BLS.
Jobs openings increased in December to 11.0 million from 10.4 million in November.
10:00 AM: Testimony, Fed Chair Jerome Powell, Semiannual Monetary Policy Report to the Congress, Before the U.S. House Financial Services Committee
2:00 PM: the Federal Reserve Beige Book, an informal review by the Federal Reserve Banks of current economic conditions in their Districts.-("stay the course…data dependent" etc)'''
8:30 AM: The initial weekly unemployment claims report will be released. The consensus is for 195 thousand initial claims, up from 190 thousand last week.
12:00 PM: Q4 Flow of Funds Accounts of the United States from the Federal Reserve.
8:30 AM: Employment Report for February. The consensus is for 200,000 jobs added, and for the unemployment rate to be unchanged at 3.4%. There were 517,000 jobs "added" in January, and the unemployment rate was at 3.4%. (so thie will not have the seasonal adjustment factor in it as they don't do that on a monthly basis so it will probably be lower and thus allow the FOMC to say "ok we're gonna stop soon becasue the labor market has cooled off"-which the markets will celebrate by melting up and vaporizing anyone who is short)
https://www.calculatedriskblog.com/2023/03/schedule-for-week-of-march-5-2023.html
Interdasting header on the CME (Chicago Mercantile Exchange) site (and at the top of the CME FedWatch page-cap #2) "CME Group is conducting a test of the emergency notification system…This is only a test…Please disregard 030423"
That still show a 25bp raise on March 22nd
>>18417037 pb Economic Schedule for Week of February 26, 2023-expect some really shitty data points in housing, autos, retail